The three-year contract is for $12.9 million, sources told ESPN, with Crosby receiving $6 million in 2020 and $9.5 million through Year 2 of the deal.
The 2007 sixth-round pick has spent his entire career with the Packers and is coming off a season in which he had a career-best 91.7% success rate on field goals, tying the team record. He missed just one extra point on the way to being named a first alternate for the Pro Bowl.
"I think when you have a guy who has been through the fire like Mason has, for a guy in my position, it makes us feel very comfortable," Packers general manager Brian Gutekunst said Friday. "He obviously had an excellent year last year. He's a big part of our team, a big part of what we're trying to do here. I'm very hopeful that that will reach the right ending."
At age 35, Crosby shows no signs of diminished leg strength.
He holds the Packers career scoring record, a mark he surpassed during the 2015 season. He owns the seven-longest field goals in team history (a 58-yarder, two from 57, three from 56 and one from 55).
Crosby also holds the NFL postseason record for most consecutive field goals made, with 23 (from 2010 to 2016).