The Jags hoped to get safety Reggie Nelson, a first-round pick from Florida, signed before camp begins Saturday.
Durant's deal includes $1.72 million guaranteed.
Durant, a 6-foot-1, 232-pounder from Hampton, was the sixth linebacker drafted this year and the first from a Division II school. He was Mid-Eastern Athletic Conference defensive player of the year three times.
He finished his college career with 353 tackles, 47 tackles for a loss, 10 sacks and four interceptions.
The Jaguars believe he can be equally productive at the next level. They like his speed and aggressiveness, and expect him to provide an immediate impact on special teams and maybe work his way into the starting lineup alongside Mike Peterson and Daryl Smith.