Trevor Lawrence won’t be packing his bags anytime soon.

On Thursday, the Jaguars finalized a deal with their franchise quarterback, with the two sides agreeing to a five-year, $275 million contract extension, NFL Network’s Ian Rapoport first reported.

The deal makes Lawrence one of the highest-paid quarterbacks in the league, tying him with Joe Burrow for the highest average annual value (AAV) in NFL history at $55 million per season.

The contract includes $200 million guaranteed with $142 million at signing, according to ESPN’s Adam Schefter.

The lucrative bump comes nearly a month after Detroit gave Jared Goff a four-year extension worth $212 million that made him the second-highest paid quarterback in the league.

Goff’s average salary is $53 million.

Lawrence is now the sixth QB making more than $50 million a year, joining Burrow, Goff, Justin Herbert of the Los Angeles Chargers, Baltimore’s Lamar Jackson and Philadelphia’s Jalen Hurts.

Lawrence is the 14th to top $40 million annually, and he’s the youngest on the list.

Lawrence, the No. 1 overall pick from Clemson University, had a rough start during his rookie season but has looked strong in the ensuing two years.

He has completed 63.8 percent of his passes for 11,770 yards, recording 58 touchdowns and 39 interceptions over three years.

Before the extension, reporters asked Lawrence at OTAs earlier in June if he was worried about not getting an offer, as late spring and summer are prime times for big deals.

“I have full belief that that’ll take care of itself and that’s not something I need to worry about,” Lawrence said.

That assessment proved to be correct.

— with AP