Packers and Rodgers in historic NFL deal

Aaron Rogers is set to become the highest-paid player in the NFL after media reports said the Green Bay Packers quarterback had signed a contract extension.

NFL star Aaron Rodgers has signed a four-year extension with the Green Bay Packers. (AAP)

Aaron Rodgers and the Green Bay Packers have agreed on a four-year extension that will make him the highest-paid player in NFL history, according to multiple reports on Wednesday.

Rodgers' former teammate and current NFL Network analyst James Jones first reported the agreement, tweeting that Rodgers will make $US33.5 million ($A46 million) annually in new money, plus available incentives each year, and receive more than $100 million ($A137 million) guaranteed.

Atlanta's Matt Ryan held the previous benchmarks for annual salary ($US30 million) and guaranteed money ($US94.5 million).

According to multiple reports, Rodgers will receive more than $80 million ($A110 million) by March.

Rodgers, 34, still had two years remaining on his contract, meaning he is now under contract through 2023.

He will turn 40 in December of that year.

His previous $US22 million annual average, which was the highest in NFL history when the deal was signed in April of 2013, had slipped to 10th among NFL quarterbacks before the new deal.