Vazquez to New York for Cabrera, Dunn.

UPDATE: The prospect will be Arodys Vizcaino. A-ball pitcher with very high upside. BA ranked him third in Yankees system for 2010.

According to Jon Heyman of SI.com, the Atlanta Braves will trade Javier Vazquez to the New York Yankees for centerfielder Melky Cabrera, lefty reliever Michael Dunn, and a prospect.

Vazquez had a career year in 2009, with a 2.87 ERA, 5.41 K/BB rate, and 2.77 FIP. Vazquez, who was acquired by the Yankees in 2004, has since pitched for Arizona, the White Sox, and most recently, the Braves.

The Yankees trade outfielder Melky Cabrera to Atlanta. Melky had arguably his best season in 2009, hitting .274 with a .331 wOBA and playing a solid defensive centerfield. Once one of the Yankees better prospects, he’s settled into a role as a solid starter/fourth outfielder, who can hit at a league average level, and play decent defense, with a great arm. He would be a good fit at any outfield position for the Braves in 2010, although he’s best in right.

Michael Dunn is a hard throwing lefty reliever who pitched three levels in 2009, eventually making it to the big leagues. His career minor league K rate is well over 10, although he has struggled a bit with his control.

No word yet on the third player going to Atlanta. The Yankees will also acquire reliever Boone Logan.