Frazier, an 18-year-old outfielder from Loganville (Ga.) High, announced on his Twitter account that the deal was done late Friday.
Tribe officials declined to confirm the agreement, but said there would be a “draft announcement” today. The No. 5 overall pick is expected to sign his contract at Progressive Field prior to Cleveland’s home game against Washington.
According to Baseball America, Frazier received $3.5 million from the Indians to forego playing college baseball at the University of Georgia.
The 5-foot-11 Frazier was named the 2013 Gatorade National Baseball Player of the Year after batting .485 with 17 home runs, 45 RBIs and 56 runs in 32 games for Loganville. He was the first high school position player chosen in this year’s MLB First-Year Player Draft.
As a junior, Frazier hit .424 with 24 homers in leading the Red Devils to the Georgia Class AAAA state championship. He was named an All-American by Aflac and Under Armour.