A person familiar with the deal says DeSean Jackson's contract with the Washington Redskins is worth $24 million over three years with $16 million guaranteed.
The person spoke on condition of anonymity because the Redskins did not publicly disclose the terms.
Jackson was back at Redskins Park on Wednesday to sign the contract after two days of visits and negotiations.
Jackson signed a five-year, $48.2 million deal with the Philadelphia Eagles two years ago, but he was cut last week despite coming off a season in which he set career highs with 82 catches for 1,332 yards for the NFC East champions.
Amid reports of off-the-field issues, Philadelphia initially tried to trade Jackson and then released him. His deal with the Eagles would have been worth $10.25 million in 2014.
The Washington Redskins made their biggest move yet of the offseason Tuesday night, adding three-time Pro Bowl receiver DeSean Jackson less than a week after the dynamic playmaker was released by the rival Philadelphia Eagles.
Jackson's publicist tweeted that Jackson was signing with the Redskins following two days of meeting with coaches and officials.
Jackson also broadcast the news, tweeting: "ITS GOIN DOWN !! BURGUNDY & GOLD".
He arrived in the D.C. area Monday night and spent much of Tuesday at Redskins Park while his agent negotiated with the front office.
Jackson set career-highs with 82 catches for 1,332 yards last season for the NFC East champion Eagles, but Philadelphia tried to trade him and then cut him last week amid reports of off-the-field concerns. Jackson issued a statement denying he was associated with street gangs.
The Redskins, coming off a 3-13 season, had been looking for a versatile threat to add to an offense that includes Robert Griffin III, Pierre Garcon, Andre Roberts, Jordan Reed and Alfred Morris.
Jackson becomes the second player the Redskins have lured from an NFC East rival this offseason. Defensive lineman Jason Hatcher signed with Washington after eight seasons with the Dallas Cowboys.
Jackson's signing is the first headliner move since the hiring of coach Jay Gruden and since general manager Bruce Allen was put in charge of the roster, but it echoes a familiar pattern from past years under Redskins owner Dan Snyder: Go after the hot name and live with whatever baggage there might be. The strategy has often failed — Albert Haynesworth and Donovan McNabb are recent examples — but the 27-year-old Jackson is still in his prime.