From the Angels the Twins plucked 19-year-old outfielder Jacob Pearson, a third-rounder last June out of a Monroe, La., high school.
Banuelos immediately becomes the top catching prospect in the Twins' system, ahead of 2016 second-rounder Ben Rortvedt and projected 2018 backup Mitch Garver, their minor league player of the year.
Banuelos was the Mariners' No. 10 prospect, per MLBPipeline.com, after being selected in the fifth round of the 2017 Draft out of Long Beach State. In 40 games of rookie ball, he hit.226/.302/.284 in 176 plate appearances. "I am Offically a Twin and can not be more excited!"
Ohtani has until 11:59 p.m. ET on December 22 to sign with a major league team.
Ohtani, 23, is a two-way star in Japan who wants to try to do the same in Major League Baseball.
The Twins still have around $1.25 million left from their original bonus pool, which maxed out at $5.75 million and included $500,000 acquired from the Washington Nationals in a trade for all-star closer Brandon Kintzler.
Whichever team Ohtani chooses to sign with will owe his Japanese club a $20 million posting fee.
For the Twins, they were informed on Sunday that they were not a finalist for Ohtani's services, so they chose to cash in a large chunk of their remaining bonus slot money - Minnesota had $3.245 million to spend, per the Associated Press - they had earmarked for Ohtani to acquire a pair of prospects. He remains a free agent. The Rangers have $3.535 million while the Cubs, Dodgers, Giants, and Padres have $300,000 each. Because Ohtani is under 25 he is subject to global spending limits, which severely limits his earning power on the free market.