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The agreement includes $40 million guaranteed and carries a maximum value of $76 million, per the report.
Golladay appeared to confirm the news on social media by retweeting an NFL post that read: "Big plays coming to the Big (apple emoji)."
Golladay, 27, had back-to-back 1,000-yard seasons in 2018-19 before missing 11 games in 2020 with a hip injury.
He caught 20 passes for 338 yards and two touchdowns in five starts last season.
A third-round pick in 2017 and a Pro Bowl selection in 2019, Golladay has 183 receptions for 3,068 yards and 21 touchdowns in 47 games (39 starts). He led the NFL with 11 TD catches in 2019.
--Field Level Media