Fargas was claimed off waivers by the Cubs on Friday and subsequently optioned to Triple-A Iowa.
Fargas was designated for assignment by the Mets earlier this week, but he'll remain on a 40-man roster with the Cubs. The 26-year-old went 6-for-21 with three doubles and three RBI in seven big-league games this season, and he otherwise split time between the Double-A and Triple-A levels.