Terms of the deal weren't revealed, but multiple reports pegged its value at $51 million with $18 million guaranteed.
Jackson sat out the first 12 days of training camp last season in a bid to land a long-term contract at that time. He went on to record 58 receptions for 961 yards and four touchdowns over 15 games.
He also compiled 121 yards on punt and kick returns.
The Eagles placed their franchise tag on Jackson early this month.
"We are thrilled to be able to keep one of the NFL's top playmakers in Philadelphia," Coach Andy Reid said.
Jackson, who has amassed 230 catches for 4,096 yards and 21 scores over 60 career games, is the Eagles' all-time leader in punt return touchdowns with four.