As part of Friday's deal, Moreland would earn a $25,000 bonus for 500 plate appearances.
Texas also agreed to a minor league contract with right-hander Ross Ohlendorf, who will attend big league spring training. Ohlendorf spent the past two seasons in the Washington organization, missing most of 2014 with a back injury.
Moreland had sought $3.35 million and the Rangers had countered at $2.75 million. He made $2.65 million last season, when he hit .246 with two homers and 23 RBIs in 52 games before season-ending surgery on his left ankle.
Texas has not gone to a hearing since 2000 with Lee Stevens.