The 31-year-old spent the past four seasons in Philadelphia and won a Super Bowl with the team in 2017.
The Eagles will look to a younger receiver core in the 2021 season after officially releasing wideout DeSean Jackson on Monday and Jeffery's impending departure.
Jeffery initially signed with the Eagles in 2017 on a one-year, $9.5-million deal and inked a four-year, $52-million extension months before helping the franchise capture its first Lombardi Trophy. The wideout was instrumental in that postseason run, catching 12 balls for 219 yards and three touchdowns, including a score in the 41-33 Super Bowl LIII victory over the New England Patriots.
Injuries have hampered Jeffrey in the past two seasons, appearing in 17 games. He saw action in seven contests in 2020 and caught just six passes and one touchdown.
Jeffery has been the subject of trade speculation over the past two seasons. There were rumors he had a strained relationship with quarterback Carson Wentz, which the signal-caller denied.