Guerrero played seven seasons in Serie Nacional, Cuba's top professional league, where he was a three-time All-Star selection. In his final season of 2011-12, he batted .290 with 21 home runs and 50 RBI in 80 games. He committed eight errors in 350 chances at shortstop for a .977 fielding percentage.
In September, he received a license from the U.S. Office of Foreign Assets Control that allowed him to sign with a major league team.
Colletti said the Dodgers would plan on having Guerrero play winter ball.
"He's a big league infielder that has versatility to him," the general manager said.
Another Cuban, 22-year-old outfielder Yasiel Puig, had great success with the Dodgers this season. He was called up from the minors in early June, and nearly made the All-Star team while helping the team reach the NL championship series.
To make room for Guerrero on 40-man roster, right-hander Peter Moylan was designated for assignment.
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AP Sports Writer Ronald Blum in New York contributed to this report.