The 28-year-old reliever didn't pitch during the coronavirus-shortened 2020 season as he worked back from shoulder surgery. There had been hope he might get into a game before the end of the season, when the Giants lost on the season's final day to miss the playoffs.
Moronta is 8-9 over three seasons with San Francisco, going 3-7 with a 2.86 ERA over 56 2/3 innings and 56 appearances in 2019 after going 5-2 with a 2.49 ERA in 69 outings the year before.
Moronta earned $217,963 in prorated pay of his $588,500 salary during the shortened 60-game season.
Versatile infielder Donovan Solano was San Francisco's remaining arbitration-eligible player. He asked for $3.9 million and the team offered $3.25 million.
"We're certainly hoping we can get those deals wrapped up this week," Giants executive Farhan Zaidi said last Saturday.