The deal is worth $39 million over three years, but carries a club option or buyout on a fourth year, pushing the guaranteed money to $54 million, per ESPN's Jeff Passan. It reportedly makes him the highest-paid reliever in MLB history.
Hendriks, 31, has emerged as one of the most dominant closers in baseball over the past two seasons. The right-hander posted a 1.78 ERA for the Oakland Athletics in the shortened 2020 campaign, notching 14 saves.
Chicago had a hole to fill at the back of its bullpen with the incumbent Alex Colome also a free agent this off-season. Acquiring Hendriks is the latest big move for the White Sox, who acquired starting pitcher Lance Lynn from the Texas Rangers in December.
In addition to Chicago, the Toronto Blue Jays, Houston Astros, New York Mets and Los Angeles Dodgers were among the teams to express interest in Hendriks this winter.