The Eagles would increase his salary from $1 million in base pay to nearly $4 million in guaranteed money, Mike Silver of NFL Network reported. The new deal would take Long through the 2019 season.
However, Long, who turns 33 next week, has not accepted the deal as he continues to consider retirement.
After the Eagles acquired Michael Bennett in a trade earlier this month, Long said he was unsure whether he would return for an 11th NFL season.
"I don't know yet," Long told SB Nation. "I'm working something out right now. At 32, you have limited time left to play the game you love, so the role has to be exactly right for me. I can still play at a high level, and I'm hungry to play, but every player my age has to weigh how they want to go out."
Money does not seem to be an issue for Long. He donated his first six game checks from the 2017 season to provide two scholarships for students in Charlottesville, Va., according to NFL Network.
His final 10 game paychecks were used to fund his Pledge 10 for Tomorrow campaign.
Long also considered retirement after the 2015 season, but won Super Bowls each of the next two seasons, with the New England Patriots, then the Eagles.
Long started only one game for the Eagles in 2017, but he played in all 19 games. He had 5.0 sacks and four forced fumbles during the regular-season, knocked down two passes and had a fumble recovery in the three postseason games.