All the details of the deal are not yet public, but ESPN reports it will keep him for at least two more years after the current deal expires. That means he's under contract through the 2016 season.
It also reportedly includes incentives for playoff wins.
The Jets finished the 2013 season at 8-8 after being picked to finish toward the bottom of the league in the preseason. Ryan also led the team to wins in three of the last four games, including in the season finale against Miami. It was after that game when owner Woody Johnson announced to great fanfare Ryan would be back with the team in 2014.
He had been on the proverbial hot seat much of the season, with the Jets having brought in new general manager John Idzik last offseason. The two were seen as opposites in personality, but have apparently gotten along much better than expected.
“They got along really well from the start. Those scouting trips, the Senior Bowl, those things all helped,” a source told Metro this week, speaking on the condition of anonymity. “But I think a lot of that was Rex changing. Rex wasn't the Rex of old, necessarily. He changed a bit, tightened up a bit [and] seemed more focused.”
Ryan is 52-48 in five seasons with the Jets, but he hasn't taken the team to the postseason since two magical runs to the AFC Championship game in his first two years.
Jets beat writer Kristian Dyer contributed to this story.