Lee, a second-round draft pick from Southern California, is expected to sign the deal later this week.
Lee's contract is worth $5.17 million and includes a $2 million signing bonus. The 39th overall player selected in May, Lee is the last of the team's draft picks under contract.
The 6-foot, 192-pound Lee caught 248 passes for 3,655 yards and 29 touchdowns in three years with the Trojans. He caught 57 passes for 791 yards and four scores last year despite playing through a knee injury.
He missed most of Jacksonville's organized team activities because of an ankle injury, but is expected to be full go when the team opens training camp next week.
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