Hoover was given a raise from $535,000 to $1.4 million Friday by arbitrators James Oldham, Dan Brent and Sylvia Skratek, who heard the case a day earlier. The team had argued for $1,225,000.
A 28-year-old right-hander, Hoover was 8-2 with a 2.94 ERA, winning his first seven decisions. As a setup man for closer Aroldis Chapman, he gave up 44 hits and 31 walks in 64 1/3 innings while striking out 52. He allowed three of 12 inherited runners to score and had a streak of 30 games in which he did not give up an earned run.
Hoover is a candidate to take over as closer this season after Chapman's trade to the New York Yankees.
Tampa Bay pitcher Drew Smyly won the first decision of the year Thursday and will draw a $3.75 million salary rather than $3.2 million.