The 29-year-old Izturis set career highs last season by hitting .300 with eight home runs and 65 RBIs. He has mostly split his time between shortstop and second base.
Izturis made $1.6 million last year with the AL West champions. He asked for $3 million and the Angels offered $2.3 million.
The deal Monday provides a $500,000 signing bonus, with salaries of $2.6 million this year, $3.1 million in 2011 and $3.8 million in 2012.