Financial terms were not disclosed. The deal is worth $2 million and includes another $1 million in playing-time incentives, a source told ESPN NFL Insider Adam Schefter.
The Eagles announced the deal Monday morning on their official Twitter account and also posted a photo of Allen signing the contract.
- Philadelphia Eagles (@Eagles) March 17, 2014
The 26-year-old Allen has started 54 of a possible 64 regular-season games after being taken in the second round of the 2010 draft.
Allen has intercepted six passes (just one over the past two seasons) and forced one fumble in his career. He tore the patellar tendon in his knee late in 2011 but has been durable since returning at the start of the 2012 season.
He played for four defensive coordinators in his four seasons with Philadelphia.
ESPN.com Eagles reporter Phil Sheridan contributed to this report.