Clarkson's agent, Rich Paul, told ESPN's Adrian Wojnarowski the deal will be worth $52 million over four years.
Clarkson has proved to be an effective role player across six NBA seasons since he was selected in the second round of the 2014 NBA draft. He's played with the Los Angeles Lakers, Cleveland Cavaliers and, most recently, Jazz.
The 28-year-old Florida native started the 2019-20 season with the Cavs before getting traded to the Jazz in December. He played well after the deal, averaging 15.6 points, 2.8 rebounds, 2.2 threes and 1.6 assists while shooting 36.6 percent from beyond the arc across 42 appearances.
"I love him. I love him. Look, write it down—I love him," Utah head coach Quin Snyder told reporters in January. "Sometimes a system needs to be malleable. He's unselfish, he attacks the rim and gets to the line. If a 'system' is defense, he's embraced that. I think he'll continue to learn some of the things that we want from our group, but I want him to be instinctive."
It was an important endorsement for Clarkson, who had struggled to carve out a consistent role for the better part of three seasons with the Cavaliers and Lakers.
In all, the University of Missouri product has averaged 14.8 points in 453 games.
Clarkson clearly made a positive impression on Snyder and was able to find a niche for himself in the Utah rotation behind starting guards Mike Conley and Donovan Mitchell.
He may never develop into an All-Star-level contributor, but he's a proven scorer who should continue to provide a spark off the bench.