McCarthy, who made a donation to the Texas Rangers Baseball Foundation as part of his contract, had been eligible for arbitration for the first time. Financial terms were not disclosed.
McCarthy, 25, went 1-1 with a 4.09 ERA (10 ER/22.0 IP) in 5 games/starts for Texas last season. He spent much of the season on the disabled list with right forearm inflammation. He made his last appearance on Sept. 15 and missed the rest of the year with a strained flexor tendon in his right middle finger. McCarthy combined to go 1-1 with a 3.41 ERA (12 ER/31.2 IP) over 7 rehabilitation starts with the Arizona League Rangers (Rookie) and Oklahoma (AAA) last year.