Juan Soto's arrival last winter was supposed to be the move that pushed the New York Yankees back to the top.

They're now one step away.

Soto hit a three-run homer with two outs in the 10th inning as the Yankees advanced to their 41st World Series - and first in 15 years - by beating the Cleveland Guardians 5-2 in Game 5 of the American League Championship Series.

Baseball's biggest brand is going back to October's main stage.

Soto, acquired in a seven-player trade with San Diego in December, moved the Bronx Bombers into position with one big swing in Cleveland on Saturday night (Sunday AEDT). He also caught the final out of the game.

"We're right where we belong," said Yankees general manager Brian Cashman, who pulled off the deal for Soto.

The Yankees will try to win their 28th title against either the New York Mets or Los Angeles Dodgers.

Game 6 of the NL Championship Series is on Sunday (local time) at Dodger Stadium.

In the 10th inning on Saturday, Austin Wells walked with one out and Alex Verdugo followed with a grounder to second baseman Andres Gimenez, whose soft toss to the bag was dropped by rookie shortstop Brayan Rocchio for an error.

Gaddis struck out Gleyber Torres and had Soto in a 1-2 count before New York's stylish outfielder sent a shot over the wall in centre. Soto danced down the first-base line and paused to celebrate with his teammates before circling the bases.

"I was just saying to myself, 'You're all over that guy. You're all over that guy. He ain't got anything'," said Soto, who moved alongside his manager, Aaron Boone, as the only New York players to homer in an extra-inning, series-clinching win.

Soto is eligible for free agency this winter, and Yankees fans chanted "Re-sign Soto!" during the post-game festivities.

Giancarlo Stanton hit a two-run homer and was named ALCS MVP as the Yankees took care of the Guardians in five games. But it wasn't easy.

New York won the first two at Yankee Stadium without much fanfare or any major drama. However, it was a different story in Cleveland as all three games at Progressive Field were nail-biters.

The Guardians rallied to win Game 3 on two two-run homers in their last two at-bats, and the Yankees held on to win Game 4 after blowing a four-run lead.

"This was a roller-coaster and we were able to just keep punching back," Stanton said.

"We know there's much more work to do and it's only uphill from here and we've got to get it done."

Cleveland just didn't have enough and a surprising season under first-year manager Stephen Vogt ended just short of a World Series.

The franchise remains without a title since 1948, baseball's current longest drought.