Murray's deal is worth $42 million with $21 million guaranteed, ESPN's Adam Schefter and Chris Mortensen report.
Murray, 27, was named the NFL's offensive player of the year after rushing for a franchise-record 1,845 yards and catching 57 passes for another 416 yards in 2014. He also tied for the league lead in rushing touchdowns with 13 and set an NFL record by opening the season with eight straight 100-yard rushing games.
[daily_cut.nfl]Murray became a free agent on Tuesday after he and the Dallas Cowboys did not agree to a new deal. Entering free agency, Dallas had about $12 million in cap space after placing the franchise tag on wide receiver Dez Bryant and restructuring the contract of left tackle Tyron Smith. Cowboys owner Jerry Jones previously said talks with Murray's agent were going "slow," and that he would let Murray test the market.
On March 3, the Eagles agreed to trade running back LeSean McCoy to the Buffalo Bills for linebacker Kiko Alonso. McCoy had been Philadelphia's starting running back for the last five seasons. He was third in the NFL in rushing last season with 1,319 yards.
The Eagles had appeared close to a deal with free-agent running back Frank Gore before he reversed course and signed with the Indianapolis Colts. On Wednesday, the Eagles reportedly agreed to a deal with former Chargers running back Ryan Mathews.
The Eagles have been busy since free agency started, trading quarterback Nick Foles to the St. Louis Rams for quarterback Sam Bradford, signing cornerback Walter Thurmond and re-signing quarterback Mark Sanchez.
Bradford, who was teammates with Murray for three seasons at Oklahoma, said he would recruit Murray to Philadelphia.
"Absolutely. I've been trying my hardest," Bradford said to ESPN.com. "I've called him. I've texted him. I've done everything. We've been in communication. If we can somehow land him, it would be a great pickup."
- Mike Fiammetta and Scooby Axson