SAN FRANCISCO (Reuters) - The Oakland Athletics and All-Star right-hander Trevor Cahill agreed to a five-year contract extension, the Major League Baseball team said on Monday.

The deal is worth $30.5 million, according to a report on Major League Baseball's website (www.mlb.com), and includes a two-year club option that, if picked up, would be worth $13 million and $13.5 million respectively.

It marks a major raise for the 23-year-old pitcher, who was scheduled to earn $440,000 this season.

Cahill, Oakland's opening day starter, went 18-8 last season with a 2.97 ERA.

(Writing by Steve Keating in Toronto; Editing by Frank Pingue)