Green Bay quarterback Aaron Rodgers has reportedly signed the richest deal ever seen in the NFL.

The 34-year-old has agreed to terms on a four-year deal worth more than $199 million ($US134m) which is set to shatter all records as the highest earning deal in American football.

Despite missing the second half of last season with a broken collarbone, the Packers have broken the bank to retain their offensive leader.

The NFL Network and ESPN, citing unnamed sources, said the 2011 Super Bowl champion would be set with the Packers until just after his 40th birthday.

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Rodgers, a two-time NFL Most Valuable Player, said earlier this year he wanted to finish his career with the Packers.

The deal would ensure Rodgers a record $US57.5 million signing bonus and give him more than $US80 million by next March.

ESPN reported that with incentives such as the Packers making the playoffs and Rodgers finishing among the NFL's top-rated quarterbacks, the deal could net the star signal-caller up to $246 million ($US180) million.

The statistical breakdown of the contract is truly crazy.

According to Forbes, conservative estimates that Rodgers will pocket $US134 million across the four years of the deal, still sees him jump Atlanta's Matt Ryan as the highest paid player in the game.

Ryan's decision to re-sign with the Falcons saw him earn $US30m per-season — a record broken by Rodgers' new record $US33.5 million per-season.

Including endorsements and bonuses, Rodgers is set to earn $US90million this financial year, a figure which would have put him fifth on this year's Forbes 2018 Athletes Rich List.

Only Conor McGregor ($130 million), Cristiano Ronaldo ($142 million), Lionel Messi ($146 million) and Floyd Mayweather ($375 million) earned more than that amount last year.

The move clears the last major off-season issue for the Packers ahead of their September 9 season opener at home against arch-rival Chicago.

Rodgers has completed 65.1 per cent of his passes for 38,502 yards and 313 touchdowns with 78 interceptions and run for 2,670 yards and 25 touchdowns since entering the NFL in 2005.

The Packers have been 94-48 with Rodgers as a starter but are 6-13 with a draw when he does not play.

Last year, the Packers lost Rodgers to a season-ending shoulder injury in the sixth week of the season and missed the playoffs, going 7-9.

HOW THE WORLD REACTED TO THE DEAL