NEW YORK — Pete Alonso isn’t going anywhere.

In a surprise development, the fan-favorite first baseman reached a two-year, $54 million contract to return to the Mets, according to multiple reports. The first baseman will be making $30 million next season and owns a $24 million player option for the 2026 season.

Alonso’s agreement concludes a multiyear saga — that reached its peak when Steve Cohen expressed his displeasure with their recent negotiations on Jan. 25 — fraught with speculation about the slugger’s future in Queens. The 30-year-old was reportedly receiving interest from the Toronto Blue Jays. But, like many players in recent years, he preferred to not take their money.

He reportedly turned down a seven-year, $158 million extension offer during the 2023 season — before David Stearns’ hiring as the Mets’ president of baseball operations — and hired agent Scott Boras to represent him ahead of his much-discussed free agency.

Originally a second-round draft pick by the Mets in 2016, Alonso set an MLB rookie record with 53 home runs in 2019, then set a franchise record with 131 RBI in 2022.

Alonso is the only Met with multiple 40-homer seasons — a feat he achieved three times. His 226 home runs rank third in team history.

But Alonso’s production dipped in 2024, when he recorded 34 home runs, 88 RBI and a .788 OPS, all of which marked career lows, not including the COVID-shortened 2020 season.

The righty-swinging Alonso rebounded in the postseason, hitting one of the biggest home runs in franchise history with a go-ahead three-run blast in the ninth inning of the Mets’ Game 3 win against the Milwaukee Brewers in their wild-card series.

Alonso’s market was slow to develop, however, with Stearns believed to be reluctant to invest heavily in a first baseman entering his age-30 season

The Mets seemed to be pivoting this month when they signed outfielder Jesse Winker to a one-year, $8 million contract and reliever A.J. Minter to a two-year, $22 million deal, but in the end, there was enough money for Alonso to re-sign, too.

His return continues a busy offseason for the Mets, who signed superstar slugger Juan Soto to a record-setting 15-year, $765 million contract.

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