The Jets have also given up their fifth-round pick and a seventh-rounder Friday to bring in Hill, who could immediately step in as a starter opposite Santonio Holmes. The 6-foot-4, 215-pound Hill will give quarterback Mark Sanchez a speedy target who can get down the field. He had 28 catches for 820 yards - averaging more than 29 yards a catch - and five touchdowns last season for the Yellow Jackets.
Hill fills one of New York's biggest needs coming into the draft.
New York took North Carolina defensive end Quinton Coples with their first-round pick at No. 16 overall.
The Associated Press contributed to this report.