Aceves has also made 15 starts among his 194 major league appearances over six seasons. His potential role with the Orioles is undetermined, but they could use another set-up man if Tommy Hunter is named the closer.
Aceves, 31, is 30-14 with a 3.69 ERA and 29 saves, including 25 in 2012. Last year, he went 4-1 with a 4.86 ERA in 11 games, including six starts, with the Red Sox.
Aceves was 4-2 with a 4.25 ERA in eight starts at Triple-A Pawtucket last year.
Unfortunately, Aceves has gained more attention for his explosive personality.
The Red Sox suspended Aceves for three games in August 2012 for "conduct detrimental to the team" following a confrontation with manager Bobby Valentine. Aceves reportedly was upset at being passed over in a save situation and slammed the door to Valentine's office.
The following month, Aceves got in a heated argument with second baseman Dustin Pedroia in the Red Sox's dugout.
Aceves also was a prominent figure in last year's brawl between Mexico and Canada in the World Baseball Classic.
MLBTradeRumors.com first reported that the Orioles signed Aceves to a minor league deal.
Update: According to Bob Nightengale of USA Today, Aceves is guaranteed $1.2 million if he makes the big league club, with a chance to earn $3 million if he reaches incentives.
Aceves will wear No. 91.
"Good arm, excellent record, very competitive in the AL East," said executive vice president Dan Duquette via text message.