Peralta was 3-4 with a 4.41 ERA in 2014, when he was second on the Rays staff with 69 appearances. During the past four seasons, the 38-year-old leads all major league pitchers with 296 appearances and is second to Washington's Tyler Clippard with 115 holds.
Vice president of baseball operations Erik Neander calls Peralta a fiery competitor, model teammate and clubhouse leader. The right-hander only allowed two of 24 inherited runners to score last season.
Tampa Bay also has options at the same price for 2016 and 2017.
Meanwhile, the Rays reinstated left-handed pitcher Matt Moore (elbow surgery) from the 60-day disabled list and designated infielder Vince Belnome for assignment. Infielder/outfielder Jerry Sands (left wrist surgery) also was reinstated from the 60-day DL and then designated for assignment.