NFL Network Insider Ian Rapoport and NFL Network's Mike Garafolo report Lee will re-sign with the Jags.
It's a four-year deal worth up to $38 million including $18 million guaranteed, a source told Rapoport.
The man known as the Albino Tiger early in his career for an inability to stay healthy put up solid numbers the past two seasons, compiling 1,553 yards on 119 receptions with six touchdowns. The 2014 second-round pick played a central role during the Jags' midseason surge before an ankle injury held him out the final two games of the 2017 regular season. Lee earned seven receptions for 69 yards in three playoff games.