Various reports have the deal at $1.8 million for 2014, with up to $300,000 in incentives. Arencibia must first pass a physical, and the icy weather in the Dallas-Fort Worth area could delay that.
Arencibia, who turns 28 in January, struggled last season with the Toronto Blue Jays. He hit just .194, and his .227 on-base percentage would have been the lowest in the big leagues if he had enough at-bats to qualify.
But Arencibia, who was drafted in the first round in 2007, has shown power since making his professional debut. He had 21 homers and 55 RBIs in 2013 and has averaged 20 homers in his three full seasons.
Arencibia was arbitration-eligible this offseason, but the Blue Jays decided not to tender him a contract, making him a free agent.
Texas will go into next season with Geovany Soto as its primary catcher and Arencibia as the backup. Arencibia played in 138 games last season.