Ramirez now has three days to accept or decline the option, which is worth $14 million. If he declines, he would become a free agent.
The 36-year-old hit .285 in 2014 with 15 home runs and 66 RBI and was named an All-Star for the third time in his career.
In 17 MLB seasons, Ramirez has 2,186 hits, 369 home runs and a lifetime .285 average.
Earlier Friday, Milwaukee exercised its club option on right-hander Yovani Gallardo for 2015 and declined the vesting/club option on second baseman Rickie Weeks. It also claimed catcher Juan Centeno off waivers from the New York Mets.
Milwaukee finished 82-80 in 2014 and missed the playoffs after leading the NL Central at the All-Star break.
- Molly Geary