The 35-year-old started 10 games for the Dodgers in late 2012 but is likely to be a long reliever this season. He can earn $1 million in performance bonuses based on innings under Tuesday's agreement: $250,000 each for 50 and 60, and $500,000 for 70.
Blanton largely struggled in his first stint with the Dodgers, and he crashed out of the majors in 2013 after struggling even more with the Los Angeles Angels.
He retired early in 2014 but revitalized his career last season as a reliever with Kansas City and Pittsburgh. He went 5-0 with a 1.57 ERA for the Pirates, making 21 relief appearances after arriving in late July.
Right-handed hitters struggled against Blanton, managing only a .203 average last season. That should help on a Dodgers staff heavy with left-handers.