The deal, announced by the team on Friday, keeps Victorino under contract with the Phillies through 2012.
Victorino earned his second straight Golden Glove award in 2009 while hitting .292 with 62 RBIs, 10 home runs, 13 triples, 39 doubles, and 25 stolen bases.
The Victorino deal follows Thursday's announcement that the Phillies had signed 29-year-old right-hander Joe Blanton to a three-year, $24 million extension.
Victorino made $3.125 million in 2009. He asked for $5.8 million in arbitration, and the Phillies had offered $4.75 million.
Assistant GM Scott Proefrock told The Associated Press the Phillies were also negotiating with catcher Carlos Ruiz, the only other Phillie in arbitration, and hoped to sign him within a week.
Information from The Associated Press and Reuters was used in this report.