The Blue Jays offered $11,350,000 on Friday, the day sides were required to swap figures.
Donaldson lost his case last year and made $4.3 million. The third baseman hit .297 with 41 homers and league bests of 123 RBIs and 122 runs.
The Blue Jays came to terms with six of their eight arbitration-eligible players. They agreed to a one-year, $8,375,000 contract with recently acquired right-hander Drew Storen.
Toronto also agreed to one-year deals with left-handers Brett Cecil ($3.8 million) and Aaron Loup ($1.05 million), outfielder Michael Saunders ($2.9 million), and right-handers Drew Hutchison ($2.2 million) and Steve Delabar ($835,000).
Right-hander Jesse Chavez joined Donaldson in filing for arbitration. He asked for $4 million and the Blue Jays offered $3.6 million.