Reports say that the contract is worth $255 million, which would make Hurts the highest-paid player in the history of the game.
The deal gives Hurts a job with the team until 2028. More than $179 million of the deal is guaranteed.
Because of the no-trade clause, the team can't move the 24-year-old player without written permission from both the player and his agent.
The Eagles picked Hurts with the 53rd overall pick in the NFL draft in 2020.
He led the Eagles to the 2023 Super Bowl, where they lost to the Kansas City Chiefs in February in Arizona.
He came in second for NFL Most Valuable Player in 2023, behind Patrick Mahomes, the play-caller for the Chiefs.