The news comes via Jon Heyman on Twitter.
Wang drew interest after a strong showing in the World Baseball Classic with Chinese Taipei. The right-hander did not allow a run in 12 innings of work, surrendering ten hits and just one walk.
Wang spent the last two seasons with the Washington Nationals without much success, posting an aggregate 4.94 ERA in 94.2 innings. He missed time last year due to a left thigh strain and a right hip strain. Prior to that, he missed the latter half of the 2009 season, all of 2010, and the first half of the 2011 season due to right shoulder surgery.
Heyman suggests the signing gives the Yankees flexibility to make a trade:
If Wang pitches like he did in wbc, potentially could allow yanks to trade hughes or nova for a hitter
— Jon Heyman (@JonHeymanCBS) March 23, 2013