Aybar batted .312 with five homers and 58 RBIs last season. He can earn an additional $100,000 in performance bonuses: $50,000 each for 575 and 625 plate appearances.
Aybar was seeking a $2.75 million deal after making $460,000 last year. The Angels countered with an offer of $1.8 million.
His agreement came Thursday as Angels pitchers and catchers reported to spring training in Arizona.
Angels catcher Jeff Mathis had his hearing, asking for a raise from $450,000 to $1.3 million. Los Angeles argued that he should be paid $700,000.
A decision by arbitrators Elliott Shiftman, Steven Wolf and Margaret Brogan is expected by Friday.
Mathis, who shares the Angels' catching job in a platoon with Mike Napoli, hit .211 with five homers and 28 RBIs in 237 at-bats last year. His 11th-inning double beat the New York Yankees in Game 3 of the AL championship series.