In February 2014, he was named the 34th-best prospect in baseball by Baseball America. The Dodgers invited him to spring training that year. Pederson was then assigned to the Class AAA Albuquerque Isotopes to begin the 2014 season. He was named minor league Prospect of the Month by MLBPipeline.com in April 2014 after batting .398 (second-best in the league)/.504/.663 with 6 home runs and 9 steals. He was the fifth-youngest position player in the Pacific Coast League, and almost five years younger than the league average. Ben Badler of Baseball America opined, "Pederson is the Dodgers' No. 1 prospect, No. 34 in baseball, and I still think he's underrated."
Pederson was named to the mid-season Pacific Coast League All-Star team after batting .319/.437 (leading the PCL)/.568 (3rdo) with a 1.005 OPS (leading the PCL), 17 home runs (tied for sixth in the minor leagues), 57 walks (tied for first in the PCL), 58 runs scored (2nd in the PCL), and 20 stolen bases (3rd in the PCL), in 74 games. On July 24, he became the second minor leaguer to hit 20 home runs and steal 20 bases in 2014, and the first Isotopes player ever to have a 20/20 season. In doing so, he became the second LA Dodger minor leaguer ever to have two 20/20 minor league seasons, joining Mike Marshall, who did it in 1979 and 1981.
With major league rosters expanding to 40 players for September, Pederson was added to the Dodgers' 40-man roster and called up to the Majors for the first time on September 1, 2014. Manager Don Mattingly said, "The people in our organization that have seen him the most say he's the best center fielder in our organization".
After the Dodgers traded Matt Kemp in December 2014, Dylan Hernandez of the Los Angeles Times wrote that the team planned to start Pederson in center field in the 2015 season. Baseball America named him the #8 prospect in 2015, and MLB.com ranked him the 13th-best prospect in baseball, and the #2 outfield prospect, going into the 2015 season. He was named the Dodgers Opening Day starting center fielder for the 2015 season in April, after having led the team in home runs and RBIs during spring training, beating out Andre Ethier in the competition. At 22 years of age, he was the youngest Dodgers opening day starting center fielder since Willie Crawford (in 1969), and the third-youngest player in the NL.