The Titans have agreed to trade Jones to the Cowboys for a fourth-round pick in this weekend's draft, which would go back to the Cowboys if Jones does not play this season, NFL Network's Adam Schefter is reporting.
The Titans confirmed the deal, but added that terms had to be finalized. Jones must also pass a physical before the trade can be completed.
Cowboys spokesman Rich Dalrymple confirmed the teams had an agreement Wednesday, but no terms had been filed with the NFL office, which already had closed for the day.
Dalrymple declined to discuss specifics of the trade.
He declined to say who or what the Cowboys might give up in the trade. Specifics are likely will be announced Thursday or Friday, Dalrymple said.
Jones' agents, who did not immediately return messages from The Associated Press, also had vowed to rework the cornerback's contract upon any trade.
Tennessee gave Jones permission to talk to other teams weeks ago, and the cornerback had been barred from working out on their property in February. The Titans and Cowboys struggled to agree on compensation for someone who hadn't played since December 2006 but has been in the news repeatedly for his off-field conduct and six arrests since being drafted.
Jones was suspended in April 2007 for that off-field conduct, and a January visit to an Atlanta strip club prompted the NFL to tell him the league wouldn't consider reinstatement him until prior to the opening of training camps in July.
He was the first defensive player drafted in 2005, sixth overall out of West Virginia, and he easily was Tennessee's best defender in 2005 and 2006. His four career interceptions came in 2006 as he helped the Titans to an 8-8 record.
He also led the NFL in punt-return average in 2006 with 12.9 yards per return and three touchdowns.
The Cowboys are interested in Jones, baggage and all, for his skills at cornerback and as a dynamic kick returner. Both positions are among the team's biggest weaknesses.
Also, the club has had success straightening out troubled players. The latest reclamation project was Tank Johnson, who signed during the 2007 season while he was still suspended.
Information from the Associated Press was included in this report