Walden would earn a $10,000 performance bonus under Thursday's deal if he has 30 games finished next season.
Acquired from the Los Angeles Angels in November 2012, Walden was 4-3 with a 3.45 ERA this year with 54 strikeouts in 47 innings. He made $541,500.
Eight Braves remain eligible to file for arbitration next month: right-handers Brandon Beachy, Craig Kimbrel and Kris Medlen; left-hander Mike Minor; first baseman Freddie Freeman; infielder Chris Johnson; and outfielders Jason Heyward and Jordan Schafer.
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