The Pittsburgh Pirates are bringing back veteran outfielder Andrew McCutchen, the team announced Monday.

He signed a one-year contract worth $5 million, a source told MLB.com's Alex Stumpf.

"It's still there. I'm still excited," McCutchen said Monday, according to Kevin Gorman of the Pittsburgh Tribune-Review.

"I still do get excited to see the guys, to prepare for the season and get ready, and, ultimately, I think the biggest thing for me is knowing I can still compete and can still be able to produce, and I still feel like there's a way that I can be better."

McCutchen continued: "And I know that it's still in there. You're always searching for it. You always feel like it's there. You're doing things, and I feel like that once that gets lost and go, 'That's it. I think I'm good,' that's when you're good. I'm getting close to that, but I'm not there yet."

McCutchen slashed .232/.328/.411 with 20 home runs, 18 doubles, and 50 RBIs in 120 games with the Pirates last season.

The 38-year-old is fourth in Pirates history with 235 home runs and only five behind Hall of Famer Roberto Clemente for third place.

McCutchen is a career .273 hitter with 319 home runs, 1,239 runs scored, 1,095 RBIs, and 219 stolen bases across 16 MLB seasons with the Pirates, Philadelphia Phillies, Milwaukee Brewers, San Francisco Giants, and New York Yankees.