Carroll hit .277 (96-for-347) with 13 doubles, four triples, one homer and 36 RBIs this season.
He saw more playing time than anticipated because of Asdrubal Cabrera's first-half problems at second base and Andy Marte's offensive struggles at third base after the All-Star break.
If the option had been declined, the Indians would have had to pay Carroll a $150,000 buyout.
Madrid Seek Defensive Depth - Report
Brawl costs Carmona six games, Sheffield four
Player Ratings: Shakhtar 1-2 Barcelona
