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The deal, which is contingent on Perez passing a physical, will not include an option of any kind, sources said.
Perez, 27, wanted a longer contract, but the Mets held firm on three years, securing him for what should be the prime of his career.
The news of Perez's return to the Mets, first reported by the New York Post, could trigger a domino effect with other pitchers remaining on the free-agent market.
The Dodgers have maintained almost daily contact with the agents for left-hander Randy Wolf, and the two sides made "a little" progress over the weekend, one source said.
Righty Ben Sheets who, like Wolf, represented a fallback position for the Mets could end up with the Rangers, but only on the club's preferred terms. Sheets' talks with Texas have "less momentum" than they did 10 days ago, according to a source.
The Mets began their negotiations with Perez by offering him a three-year, $33 million contract, sources said higher than their reported three-year, $30 million proposal.
They increased their offer slightly even though Perez had no other apparent suitors, but considered it a triumph to limit the contract to three years.
The Braves gave free-agent right-hander Derek Lowe a four-year, $60 million free-agent contract, and Lowe is eight years older than Perez.
Mets officials like Perez because he has proven that he can pitch in New York, and because of his success against the Phillies, against whom his ERA is 2.06 the past two seasons.
Perez, 27, was 25-17 with a 3.91 ERA overall during that period. He would rejoin lefty Johan Santana and righties John Maine and Mike Pelfrey in the team's rotation.
The Mets earlier signed free-agent right-handers Tim Redding and Freddy Garcia as potential No. 5 starters. They could go with three left-handed starters at some point if they commit to Jon Niese.
Free-agent righty Pedro Martinez also remains a possibility to return, but the Mets are more likely to add a hitter if their budget allows; they are close to their payroll limit.
Mets general manager Omar Minaya met last week with Martinez in the Dominican Republic. Martinez plans to pitch for the Dominican in the World Baseball Classic, showcasing himself for potential suitors.
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