Philadelphia exercised the option on Monday. Wentz, 26, is set to make $8.4 million in 2019. His option for 2020 is worth $22.7 million. Wentz will receive that 2020 salary, unless he signs an extension with the Eagles before that season.
Eagles general manager Howie Roseman has been on the record as saying he wants to sign Wentz to an extension.
Wentz completed 69.6 percent of his throws for 3,074 yards, 21 scores and seven interceptions in 11 starts last season, while limited by another injury. He started 16 games during his rookie campaign before having a Pro Bowl season in 2017.
The No. 2 overall pick in the 2016 NFL Draft missed three games during his sophomore campaign.
Wentz has been recovering from a back injury all off-season and hopes to be healthy when the Eagles report for OTAs off-season workouts on May 21. The Eagles have mandatory minicamp from June 11 to June 13.