Juan Soto and the Yankees have agreed to a record contract — and that’s just for this year.

While Soto’s huge payday awaits next offseason, when he is set to hit free agency, the superstar outfielder and the Yankees agreed to a $31 million salary for 2024, The Post’s Joel Sherman reported on Thursday.

The deal breaks Shohei Ohtani’s previous record for one year for an arbitration-eligible player, when the two-way star made $30 million in 2023 with the Angels.

Of course, Ohtani went on to land a 10-year, $700 million contract (with heavy deferrals) this offseason from the Dodgers in free agency.

For now, the 25-year-old Soto will be well paid in his final year of arbitration, which is also his first year with the Yankees after coming over in a blockbuster trade with the Padres in December.

The Yankees made the deal understanding that they might only get one year of Soto’s services, though if they are going to have a shot at signing him long-term next offseason, they are off to a solid start in the relationship by avoiding an arbitration hearing.

“The future is always now,” Yankees general manager Brian Cashman said a day after acquiring Soto for Michael King, Kyle Higashioka, Drew Thorpe, Randy Vasquez and Jhony Brito. “[Soto is] a free agent at the end of this term. We understand that it’s a possible short-term situation. I know he’s going to make our team significantly better.”

As the roster currently stands, Soto is set to have the Yankees’ fourth-highest salary in 2024, behind Aaron Judge ($40 million), Gerrit Cole ($36 million) and Giancarlo Stanton ($32 million).

With the additions of Soto, Trent Grisham, Alex Verdugo and then Marcus Stroman agreeing to a deal on Thursday night, the Yankees’ projected luxury tax payroll for 2024 is expected to exceed $300 million (barring further trades) for the first time in franchise history.

They are still trying to add another top pitcher to their rotation, which could potentially take their payroll north of the highest threshold of $297 million.

The Yankees agreed to deals with all of their arbitration-eligible players by Thursday’s deadline.

Their 2024 salaries, as reported by The Post’s Joel Sherman and Jon Heyman: