Minnesota exercised the $12-million club option on Cruz's contract for 2020, reports MLB Network's Jon Heyman.
Cruz was a major contributor to the 101-win Twins' American League Central title. The slugger led the club with 41 home runs and a 1.031 OPS.
The 39-year-old has hit 22 or more long balls in 11 straight seasons, and 2019 was his fourth campaign in which he belted 40-plus homers.
Since 2014, Cruz leads all of baseball with 244 round-trippers and has been worth 23.8 WAR, good for 25th in MLB.