Peguero spent the winter playing for Gigantes del Cibao in the Dominican Republic. He hit .271 for the Gigantes, earning a .542 slugging percentage over 31 games. His eight home runs led the league.
The 27-year-old made nine plate appearances in four games with the Royals last season. He hit .222 with a .300 on-base percentage and a .333 slugging percentage. He spent most of last season with Triple-A Omaha, hitting .266 with 30 home runs and a .912 OPS through 104 games.
Peguero has played 841 minor league games over the past nine seasons, earning a batting average of .273. For every 150 games, he averaged 29.8 home runs and 106 RBIs, but also recorded 197 strikes and only 48 walks in the same period.
He has played just 69 games in the major leagues, registering a .196 batting average with nine home runs and 28 RBIs. In 214 major league at-bats, he has struck out 89 times.
The Rangers finished last season 67-95, earning last place in the AL West. Pitchers and catchers will report to Rangers spring training in Surprise, AZ, on Feb. 20, followed by the full squad on Feb. 25.