League sources told ESPN and the New York Post on Monday that Olsen agreed to a contract to be the No. 2 television analyst for NFL games on the network. According to the outlets, he will be the partner for Kevin Burkhardt.
Olsen, 35, previously considered the move to Fox Sports after the Carolina Panthers released him earlier this off-season. Instead, the All-Pro tight end signed a one-year, $7 million contract with the Seahawks.
The three-time Pro Bowler plans to honor his one-year deal with the Seahawks and hasn't decided on when he will retire, according to ESPN. If Olsen opts to continue playing after this season, the network would wait for him.
Olsen appeared as a guest analyst for Fox Sports during the Panthers' bye week over the last two seasons. He also has appeared on ESPN's Postseason Super Bowl Countdown Show in the past two years.
The Chicago Bears selected Olsen in the first round of the 2007 NFL Draft out of Miami. In 188 career games with the Bears and Panthers, he has recorded 718 catches for 8,444 receiving yards and 59 touchdowns.