The trade can not be made official until 4 p.m. Wednesday.
Jackson has led the league in yards per reception four times, including this past season (18.9). ESPN's Chris Mortensen reported Jackson and the Eagles are "destined" for each other. The stunning release came the same day as a report by NJ.com detailing Jackson's ties to gang members in Los Angeles.
Jackson was originally the 49th overall pick of the Eagles in 2008 and spent his first six seasons becoming a star in midnight green, before eventually being released by Chip Kelly in March of 2014 after a story about Jackson's "gang affiliations". Jacksonville cut Jackson to avoid paying him $13 million this year.
He will bolster an Eagles defensive line is likely to lose three key players from last season - Haloti Ngata (free agent), Michael Bennett (trade with Patriots) and Timmy Jernigan ($13m option likely to be declined this week). He is set to earn $10 million in 2019, with no guaranteed money remaining.
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Peters started all 16 games last season but often wasn't able to play all the offensive snaps. They would gain $10-million on the cap if the trade of Jackson is completed. Despite being 32, Jackson is still among the fastest wide receivers in the game.
The Eagles also re-signed veteran left tackle Jason Peters to a one-year contract extension for the 2019 season.
Jackson himself then confirmed his pending departure later Monday.