"This is an intermediate step to what we hope will be an entire career of Darrelle as a Jet, for him to retire as a Jet and for him to hopefully go to the Hall of Fame as a Jet," said general manager Mike Tannenbaum on the team's website (newyorkjets.com).
Although contract terms were not announced, multiple local media sources reported the deal was worth $46 million for four years with $32 million guaranteed.
Revis had skipped pre-season training camp demanding to renegotiate. He was scheduled to earn $1 million in the fourth-year of a six-year rookie deal.
The Jets open the season at their new stadium next Monday night against the Baltimore Ravens.
The 25-year-old Revis, who finished second in voting for the NFL's Defensive Player of the Year award, had six interceptions last season and shut down the league's top receivers, who were described as being "lost on Revis Island" by his blanket coverage.
(Reporting by Larry Fine, Editing by Justin Palmer)