The contract includes $179.3 million in guarantees and a no-trade clause.
Hurts, 24, had a dominant season for the Eagles in 2022, helping lead Philadelphia to the Super Bowl.
The NFC Pro Bowler passed for 3,701 yards, 22 touchdowns and six interceptions in the regular season, while also adding 760 yards rushing and 13 TDs on the ground.
The Alabama and Oklahoma product also had a sensational Super Bowl, completing 71 percent of his passes for 301 yards and a touchdown with no turnovers in the game – which the Eagles barely lost to the Chiefs, 38-35.
General manager Howie Roseman rewarded the fourth-year quarterback with a deal that will keep him in Philadelphia through 2028.
With the new deal on the books, the market is officially set for Joe Burrow and Justin Herbert, fellow star quarterbacks from the 2020 draft class that are set for extensions this offseason.
Additionally, the $179.3 million million guaranteed could be what Lamar Jackson asks for as he, too, looks for a new deal.