NFL Network reported Friday that Carr's deal could approach that benchmark. Carr is currently set to make a little more than $977,000 in 2017. He could make up to $1.7 million with bonuses included.
Carr has said he wants to get a deal done before training camp in late July.
"I have an agent who is in charge of that and I am confident that he and Mr. [Reggie] McKenzie will work it out," Carr told the Fresno Bee. "I am only focused on becoming a better football player and helping my teammates become better players."
"I have complete faith it will get done before training camp. These things take time. The Raiders know I want to be here; this is my family, and I know they want me to be their quarterback."
Carr is currently signed to a four-year, $5.37 million rookie contract. He was a second rounder in the 2014 NFL Draft.
"I hope so," Carr told the Raiders website when asked about improving this season. "I don't put like measurements on it, or stats, and things like that, but from a decision-making standpoint, from a poise, and comfort standpoint, all those things, playing the game with more knowledge, more wisdom, from that standpoint, I hope I grow every, single year. I really do."
The 26-year-old was reportedly "frustrated" with the pace of contract talks in May, according to NFL.com.
But he told the Las Vegas Review-Journal that he wouldn't discuss the extension once training camp begins.
Carr completed 63.8 percent of his passes last season for 3,937 yards, 28 touchdowns and six interceptions while leading the Raiders to a 12-3 record in the games he started.
"There's nothing new to report right now," Carr told Raiders.com in late May. "I'm hoping those things pick up here real soon which we're expecting anyway. They've been talking to Tim, my agent, and things like that."
"That should get going real soon, I would hope. Once training camp hits, I'm all football. I'm not going to distract my teammates and you guys are going to want to know and all that, but trust me, if it's not done by training camp, we won't be talking about it. I'm focused on football. Again, I just want to win."
Raiders mandatory minicamp begins on June 13.