Jackson, who had spent his entire seven-year career with the San Diego Chargers, will be paid $55.5 million over the length of the contract, with $26 million of it guaranteed, several reports indicated.
Jackson hauled down 60 passes for 1,106 yards and nine TDs last year -- his third campaign of gaining 1,000 or more yards in the last four years.
The wideout missed all but five games of the 2010 season while sitting out in a contract dispute.
Jackson has racked up 272 career receptions for 4,754 yards and 37 touchdowns over his 91-game NFL career.
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