Chris Tomasson of the Pioneer Press reports it's a four-year extension worth $14.8 million, meaning Wright is signed with the Vikings through 2019.
Wright finished the 2014 season with career highs in catches (42) and receiving yards (588). The highlight of his season was an 87-yard overtime touchdown to beat the New York Jets.
General Manager Rick Spielman said in a statement that Wright's extension "stays true to our philosophy of drafting young talent, developing them in our system and rewarding their success.”
Minnesota drafted Wright out of Arkansas in the fourth round of the 2012 draft.
Wright will remain a key part of the passing game despite Minnesota signing Mike Wallace in the offseason, Pro Football Talk says.