The Seattle Mariners are nearing a five-year deal with Felix Hernandez that is rumored to be worth roughly $78 million, according to an anonymous source close to negotiations.

Hernandez is set to take his contract-finalizing physical in Seattle this Thursday. Not only would this agreement help the Mariners avoid arbitration all together, but it would prevent him from becoming a free agent after the 2011 season. The 23-year-old righty asked for $11.5 million Tuesday, which is more than a bad hop away from Seattle’s $7.2 million offering.

Just after M’s manager Don Wakamatsu called King Felix out in mid-May during a ridiculously sloppy loss to the Angels, he went 15-2 with a 1.98 ERA. Apparently, whatever his skipper said, worked.

Hernandez is now a member of the meanest 1-2 punch in baseball, along with former Cy Young winner Cliff Lee, who was acquired by Seattle in that crazy three-team blockbuster this winter that sent Roy Halladay to Philadelphia. They will be a force to be reckoned with, no doubt.