The Cubs made their first big move of the offseason on Tuesday morning.

Starting pitcher Shota Imanaga is now a free agent, a source confirmed to Marquee Sports Network. ESPN’s Jesse Rogers first reported the news.

Heading into the offseason, the Cubs had a team option on Imanaga, but it wasn’t a standard one-year option. They could have exercised a three-year, $57 million deal that would have kept the lefty in Chicago through the 2028 season.

Since the Cubs did not pick up that option, Imanaga then had the choice of exercising his one-year, $15 million player option for 2026, which he also declined.

The team could extend him a qualifying offer, which is valued at just north of $22 million. If he declines that, the Cubs would get draft pick compensation when he signs elsewhere.

[MORE: Cubs offseason primer: Everything fans need to know heading into hot stove season]

The Cubs and Imanaga could also work out a lesser deal to return, but that seems unlikely at this point.

Imanaga has pitched two seasons on the North Side and is a fan favorite both for his production and his sense of humor.

In his rookie season, Imanaga made 29 starts, posting a 2.91 ERA, finishing fifth in NL Cy Young Award voting. He was also selected to the MLB All-Star Game, where he pitched a shutout inning.

His 2025 season didn’t end the way he would have liked. Over his last 14 appearances, Imanaga pitched to a 5.42 ERA and allowed 24 home runs during that stretch.

The lefty was in line to start winner-take-all NLDS Game 5 against the Brewers, but after his postseason struggles, the Cubs elected to go with a bullpen game. He warmed up several times in the bullpen, but did not enter the game as the Cubs were ultimately eliminated.

Imanaga allowed three home runs in the postseason over 6.2 IP, with an 8.10 ERA.

Despite his struggles, he ended the regular season with a solid 3.73 ERA, 0.99 WHIP in 144.2 innings pitched.

“When we signed Shota, if you would have sort of shown us his production over the last two years, you would have taken that in a heartbeat,” Cubs president of baseball operations Jed Hoyer said in his end-of-season press conference. “So not only has he produced for us, but he’s just a great teammate, a terrific asset to the organization.”

The Cubs head into 2026 with Cade Horton and Matthew Boyd atop the rotation as well as veteran Jameson Taillon. Lefty ace Justin Steele is set to return at some point next year after elbow surgery, though his exact timeline is unclear at this time.