Punto's deal, announced Wednesday, calls for a $2.75 million salary and includes a $2.75 million club option for 2015 with a $250,000 buyout. The option could become guaranteed based on days on the active major league roster next year, not including time on a disabled list.
The 36-year-old was acquired by the Dodgers from Boston on Aug. 25, 2012, as part of the nine-player trade that sent Josh Beckett, Carl Crawford and Adrian Gonzalez to Los Angeles. Punto hit .255 this year with two homers and 21 RBIs in 116 games.
He has a .248 career average with Philadelphia (2001-03), Minnesota (2004-10), St. Louis (2011), Boston (2012) and Los Angeles.
Punto had a $1.5 million base salary each season under the two-year deal he signed with Boston and earned $250,000 annually in roster bonuses by being active for at least 150 days.