The first baseman's agent, Jim Bronner, spoke with the Braves on Wednesday about Galarraga, whose $24.75 million, three-year contract expired at the end of the season.
"They made an offer, but it's not something that he is going to accept, and we've told them that," Bronner said. "It was very low."
Bronner declined to say what the offer was. Braves general manager John Schuerholz declined comment.
Galarraga, 39, missed the 1999 season because of cancer but came back to bat .302 with 28 homers and 100 RBIs in 2000.
If the Braves offer him arbitration before midnight EST Thursday, they can continue negotiating with him through Jan. 8. Otherwise, they can't sign him until May 1.
Bronner said he didn't know if he would be in contact with the team again before the deadline.
"There are several teams that we are exploring things with at this point," Bronner said. "I think he would like to get a two-year deal, but I don't know whether that's out there or not."
Galarraga was The Sporting News Comeback Player of the Year this year after missing the previous year while undergoing chemotherapy and radiation treatment to kill a cancerous tumor in his back.
After Galarraga filed for free agency, one of the first teams to express an interest was the Chicago Cubs.
"The first call I received was from the Cubs' manager, Don Baylor, telling me that if I don't get a contract with Atlanta, the doors are open in Chicago," Galarraga was quoted as saying Nov. 1 in El Universal, a newspaper in his native Venezuela.
Baylor was Galarraga's manager in Colorado and his hitting coach in Atlanta. In five years with the Rockies, Galarraga averaged .318 with 34 homers and 116 RBIs.
"If I don't sign with the Braves, Chicago is the first team that I'd like to be with, especially because of Baylor, with whom I've had five exceptional seasons," Galarraga said last month. But he added, "I would love to finish my career with the Braves that's my first option."
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