Running back Nick Chubb agreed to a three-year, $36.6 million contract extension with the Cleveland Browns on Saturday, according to Ian Rapoport of NFL Network.
The deal reportedly includes $20 million in fully guaranteed money.
Josina Anderson previously reported the two sides had been "making progress" in negotiations.
A second-round pick in the 2018 NFL draft, Chubb heading into the final year of his rookie contract with a $4.3 million cap hit in 2021. He will now have the sixth-highest contract at his position based on average annual value, per Spotrac.
The two-time Pro Bowler finished last season with 1,067 rushing yards and 12 touchdowns in 12 games.
The 25-year-old trailed only Derrick Henry and Dalvin Cook with 88.9 rushing yards per game in 2020, while his 5.6 yards per carry ranked second among running backs behind J.K. Dobbins.
He is one of the most efficient players in the NFL with at least 5.0 yards per carry in each of his three seasons.
Chubb has shared time in the backfield with Kareem Hunt over the last two seasons, and the reduced snaps could help him remain fresh deeper into his career, which is a concern for running backs. Chubb has 680 rushing attempts through three seasons, while Henry has 681 in the last two seasons combined.
The Georgia product also shared carries with Sony Michel throughout his college career.
With heavily used running backs like Todd Gurley, Le'Veon Bell and Ezekiel Elliott struggled after getting big contracts, Chubb's limited mileage could be a plus.
A new deal also helps Cleveland lock down another member of its young core as it tries to take another step toward contention in 2021. Defensive end Myles Garrett is signed through 2026, and quarterback Baker Mayfield might not be far behind.
Last season, the Browns reached the divisional round of the playoffs after earning their first postseason win since 1994, raising expectations for the talented squad.