Free agency will be fully underway less than a week after the Fall Classic ends. Philadelphia Phillies slugger Kyle Schwarber, coming off a 56-homer campaign, is the headliner of this offseason's free agent class, but he's far from the only big name set to hit the open market.

Houston Astros pitcher Framber Valdez, Chicago Cubs outfielder Kyle Tucker and Blue Jays shortstop Bo Bichette are also looking for new deals. The free agent class could also be boosted by players whose options aren't picked up.

So, from the top players who could be available to how the qualifying offer works and more, here's everything you need to know about MLB free agency:

Players scheduled to hit free agency will officially become free agents the day after the World Series ends. At that time, teams are able to re-sign their departing free agents.

But players can't sign with a new club until 5 p.m. ET on the fifth day after the World Series ends.

The exercising of a player, club or mutual option must occur within five days following the conclusion of the World Series.

Teams have five days after the World Series to extend qualifying offers to their departing free agents. A team can only extend a qualifying offer to a player who hasn't received one before and spent the entire 2025 season on its roster.

The qualifying offer is a one-year deal with a value equal to the mean salary of MLB's 125 highest-paid players, and a player has until 4 p.m. ET on Nov. 18 to accept it.

Should a player reject the qualifying offer and then sign with a new club in free agency, the team who lost the free agent will receive a compensatory draft pick. A club that signs a rival player who rejected a qualifying offer is subject to the loss of at least one draft pick.

This year's qualifying offer is worth $22.025 million.

Here's a look at the top players who could hit free agency (listed alphabetically by last name, all contract details via Spotrac):