Philadelphia announced the re-signing Saturday. Adam Schefter of ESPN provided the financial details and noted the deal included $1 million per season in potential incentives. Ian Rapoport of NFL Network reported the pact featured $27 million in guaranteed money.
Jeffery signed a one-year, $14 million contract with the Eagles in March. He downplayed playing on a "prove it" deal during his introductory press conference with the team.
"My job is just to play football," the receiver told reporters. "I think that was the best opportunity for me."
He also hinted toward a breakout season for quarterback Carson Wentz, saying: "My job is to help him win MVP. Sky is the limit. He's a great quarterback."
Wentz, who's lived up to those expectations with 28 touchdown passes and just five interceptions through 11 games, responded to Saturday's news on social media:
Jeffery has caught 43 passes for 619 yards and seven touchdowns. He is tied with tight end Zach Ertz for the most receiving scores on the Eagles.
The 27-year-old wideout, who spent the first five seasons of his career with the Chicago Bears, has found the end zone at least once in four straight games.
Meanwhile, Philadelphia (10-1) owns the best record in the NFL and could become the first team to clinch a playoff berth Sunday with a road victory over the Seattle Seahawks at CenturyLink Field.