Kyle Schwarber, one of the top home run hitters in baseball, is officially returning to Philadelphia on a mega-money deal. 

The Phillies have agreed an eye-watering five-year, $150 million contract with the slugger following a frenzied free agency, according to ESPN's Jeff Passan. 

The 32-year-old has developed into an MVP candidate in the City of Brotherly Love, attracting a number of suitors this offseason. 

MLB giants such as the New York Mets, Boston Red Sox, and Baltimore Orioles, as well as the Pittsburgh Pirates and Cincinnati Reds were all rumored to be in the race for his services. 

However, it was Philadelphia who emerged victorious from the free agency battle, reuniting with the big hitter on the blockbuster deal. 

Schwarber has emerged as a clear clubhouse leader in Philadelphia since joining in 2022 on a four-year, $79 million deal. 

He's coming off the back of a standout season - which saw him play all 162 games for the first time in career. 

Schwarber finished second in MVP voting, behind Los Angeles Dodgers superstar Shohei Ohtani, after hitting .240/.365/.563 with 56 home runs and an NL-leading 132 RBIs. 

This year, he also became the 21st player in MLB history to hit four home runs in a game and was one of just five players with at least 100 walks. 

The three-time All-Star helped guide the Phillies to the NLDS, which they ultimately lost to eventual World Series champions, the Dodgers. 

Schwarber has slugged 340 career homers and tallied at least 94 RBIs in each season with the Phillies, including 100-plus in each of the last three years. 

Given his form, the Phillies were seemingly desperate to retain his services, despite threatening interest from other teams. 

The Pirates, despite being a smaller market team, reportedly made a four-year, $120 million offer. 

He also drew interest from elsewhere across the league, including the Mets who could be facing life without Pete Alonso. 

Alonso and the Mets agreed a two-year deal worth $54 million with an opt-out clause last offseason. Following a strong 2025 season, Alonso opted out. 

The 31-year-old is expected to head to the Winter Meetings for face-to-face meetings with teams amid his free agency this week.

Meanwhile, with Schwarber off the market, Kyle Tucker, Alex Bregman and Cody Bellinger are also top free agent options this offseason.