Jernigan was the first offensive player taken by New York, which took cornerback Prince Amukamara of Nebraska in the first round and defensive tackle Marvin Austin of North Carolina in the second.
A three-time first-team All-Sun Belt selection, Jernigan had 84 catches for 822 yards and six touchdowns this season. He also added 322 yards and three touchdowns rushing and two touchdowns in the return game, one on a punt return and another on a kickoff.
The Giants are concerned about the receiver spot because Steve Smith suffered a major knee injury last season. New York also had little in the return game last season after losing Domenik Hixon to a knee injury during an offseason minicamp.