ESPN's Adam Schefter reported the two sides agreed to a three-year, $37.5 million deal with $27 million guaranteed.
As the No. 5 overall pick in the 2017 draft, Davis entered the league with high expectations but failed to get into much of a rhythm in his first three years with the Tennessee Titans.
From 2017 to 2019, the wideout totaled 1,867 receiving yards with six touchdowns, averaging 44.5 yards per game across 42 appearances.
He had a much bigger impact in 2020, finishing with 65 catches for a career-high 984 yards with five touchdowns, averaging 70.3 yards per game. After topping 100 yards in a game just twice in his first three years, he reached the milestone five times last year.
The 26-year-old also showed the ability to make game-changing plays for the Titans:
While Derrick Henry was often a focal point offensively, Davis was a key part of the team finishing last season tied for the second-most yards from scrimmage in the NFL.
He will now try to keep his production going in 2021 and beyond with New York while providing another weapon for Sam Darnold or whoever is under center.
There are still concerns with Davis, notably the inconsistency showed throughout his career. Even in 2020, he had three games with zero catches, including the playoff loss to the Baltimore Ravens.
His new team will hope there are more positives than negatives after agreeing to the latest deal.