Guerrero gets a $1 million buyout under the agreement he signed before last season. General manager Jon Daniels said the option was a way to ensure some extra money for Guerrero this season.
The 35-year-old designated hitter made $6.5 million in 2010.
The club wants Guerrero back, and he apparently wants to return, according to MLB.com. Daniels said Wednesday that the team has already had spoken to Guerrero and his agent.
Guerrero hit .300 with 29 homers and 115 RBIs in a 152 regular-season games. He hit .220 (13 for 59) with no homers and six RBIs in 15 postseason games, including 1 for 14 in the World Series.