McCoy, who had one year remaining on his four-year, $3.9 million rookie contract, had been scheduled to earn $615,000 in base salary in 2012. A club source told NFL Network's Albert Breer that McCoy's new extension is worth a maximum of $45 million and includes $20.765 million in guarantees.
"I'm just so happy and so excited," McCoy said at a Thursday press conference announcing the deal.
McCoy, who said he first started thinking about an extension after the 2011 season, credited his agent, Drew Rosenhaus, while acknowledging that he and Rosenhaus have "a crazy relationship."
McCoy fired Rosenhaus two times before ultimately re-signing with him in November.
Shortly after news of the deal was announced, McCoy took to Twitter to express his feelings.
Thank u lord for everything because nothing would b possible without u... To the whole eagles management THANK YOU !!!!
- LeSean McCoy (@CutonDime25) February 14, 2012
A second-round pick out of Pittsburgh in 2009, McCoy has rushed for 3,026 yards and 28 touchdowns with 166 receptions for 1,215 yards and five touchdowns in his 46-game career. McCoy had 1,309 yards and an NFL-high 17 rushing touchdowns in 2011, making the Pro Bowl for the first time.