Washington Nationals right-hander Stephen Strasburg agreed to a seven-year extension Monday, FOX Sports MLB Insider Ken Rosenthal confirmed.

Source confirms: Strasburg agrees to seven-year extension with #Nationals. On it: @chelsea_janes and @JonHeyman.

— Ken Rosenthal (@Ken_Rosenthal) May 10, 2016

The deal is worth $175 million, according to CBS Sports, and will have opt-out clauses after the third and fourth years of the contract.

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Source: Strasburg deal includes opt-out after year three or four.

— Ken Rosenthal (@Ken_Rosenthal) May 10, 2016

Strasburg, the Nationals' former No. 1 pick 2009, is 5-0 with a 2.36 ERA this season. The 27-year-old had Tommy John surgery on his pitching elbow in 2010, and the Nationals have been cautious with his workload since that procedure.

The Nationals shut down Strasburg at the end of the 2012 season with the Nationals heading to the playoffs. He had pitched 159.1 innings before the team opted to end his season.