Alonso won the 2019 Derby in his rookie year, a historic season in which he recorded an MLB-best 53 home runs with the Mets.
Angels two-way star Shohei Ohtani and Alonso are the only two sluggers to announce their participation so far in the Derby.
The first baseman said he will use the same strategy as 2019, since it worked for him the last time around, including conserving his energy.