The Freak is staying in San Francisco.
The deal, pending a not-yet schedule physical, has a full no-trade clause.
Giants general manager Brian Sabean mentioned that bringing back Lincecum was one of his top priorities going into the offseason. The Giants also locked up Hunter Pence to a massive five-year, $90M extension in late September. Sabean made it very apparent that he wanted to lock up the 5'11 righty before he hit the open market.
The 29-year old was drafted in 2006 as the tenth overall pick out of Washington. He just completed a two-year, $40.5M extension that paid him $22M this past season.
Lincecum has regressed since winning his second Cy Young Award. This past season, he went 10-14 with a 4.27 ERA and 193 strikeouts in 32 starts. The highlight of his season came on July 13, when he threw a no-hitter against the San Diego Padres.
Over the course of his seven seasons in the majors, Lincecum has a 89-70 record with a 3.46 ERA.