McDade was designated for assignment by Toronto on Nov. 20 to create space on its 40-man roster. He was once considered a promising prospect, but his path to the big leagues had been blocked by Adam Lind and David Cooper.
The 23-year-old McDade hit .275 with 15 homers and 49 RBIs for Double-A New Hampshire in 2012 before receiving a late-season promotion to Las Vegas. He was originaly selected by Toronto in the sixth round of the 2007 First-Year Player Draft.
The Blue Jays also announced on Friday that utility man Mike McCoy and right-hander Joel Carreno have cleared waivers. They were both assigned to Triple-A Buffalo and will likely receive invitations to the Major League portion of Spring Training.
McCoy has spent the vast majority of the past three seasons shuffling between Toronto and the Minors. He is a career .190 hitter with three homers and 20 RBIs in 170 games. McCoy would earn $199,515 at Triple-A, compared to $501,300 with the Blue Jays.
Carreno made his Major League debut in 2011. He is 1-2 with a 4.06 ERA in 22 career games and has struck out 30 batters in 37 2/3 innings. Carreno will earn $114,412 in the Minors, compared to $493,900 in the Majors.
Right-hander Cory Wade also cleared waivers, but he has elected free agency instead of a Minor League assignment. Wade, who was claimed off waivers from the Yankees in October, is 11-6 with a 3.65 ERA and 137 strikeouts over four seasons at the big league level.