Matsuzaka has agreed to a minor league deal with the club that includes an invite to spring training.
He will compete with left-hander John Lannan and right-hander Jenrry Mejia for a rotation role. Prospects Jacob deGrom and Rafael Montero officially will be in that competition as well, but they appear targeted for Triple-A Las Vegas.
Lannan agreed to a minor league deal with the Mets last weekend.
Matsuzaka, 33, went 3-3 with a 4.42 ERA in seven late-season starts with the Mets in 2013 after opting out with the Cleveland Indians, for whom he had been pitching in Triple-A.
He appeared in danger of getting dumped early by the Mets, when he had a 10.95 ERA and logged only 12 1/3 innings in his first three starts with the club. But Matsuzaka posted a 1.37 ERA over his final four starts of the season.