The announcement of Street's one-year deal was made by the club, which did not release any financial terms of the contract.

Right-handers Joe Blanton and Chad Gaudin, the two highest seeds in the A's 2008 starting rotation, are still up for arbitration.

Clubs and arbitration-eligible players will exchange filed salary figures on Friday. Hearings are due to begin on Feb. 1.

Despite missing 10 weeks with an irritated nerve in his right elbow, Street posted 16 saves last season to bring his career total in three seasons to 76, ranking fourth in Oakland history and fifth in Major League history by age 24.

After working his way back as a setup reliever following his July 23 reinstatement from the disabled list, Street reclaimed his closer role on Aug. 15.

Thereafter, he was 3-0 with seven saves in 10 opportunities, while holding batters to a .198 average over his final 19 appearances.

Overall, Street went 5-2 with an ERA of 2.88 in 48 games last season.