Paredes, 25, has played in 118 games in the majors for the Houston Astros since 2011. He hit .192 with four doubles, a home run and 10 RBIs in 125 at-bats last season with the Astros.
Paredes, who was originally signed by the New York Yankees in 2007, is with his third organization this offseason. He was claimed off waivers by the Miami Marlins in November and the Orioles on Saturday.
To make room for Paredes on the 40-man roster, the Royals designated for assignment right-handed pitcher Maikel Cleto, who was 1-2 with a 3.55 ERA in 19 appearances in 2013 with Triple-A Omaha.
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