The five-year contract is worth $14.75 million, a league source tells ESPN NFL Insider Adam Schefter. The deal carries $8.76 million in guaranteed money for Bulaga, an offensive tackle out of Iowa who was the 23rd overall pick in April's draft.
Every Green Bay rookie is under contract. Bulaga will be able to report to training camp with the rest of the team and make the first practice Saturday.
Bulaga is expected to develop as the team's left tackle behind veteran Chad Clifton.
Also Friday, the Packers placed nose tackle Aleric Mullins, an undrafted free agent, on the reserve-did not report list.
Information from The Associated Press was used in this report.