The agreement was first reported by Jay Glazer of FOX Sports, who stated it was a five-year deal. The Seattle Times subsequently confirmed there was an agreement in place with Rice, though he can not sign a contract until Friday, presumably after undergoing a physical examination.

Rice, 24, is a 6-foot-4 receiver, who has caught 12 touchdowns in the past two seasons. He gained more than 1,300 yards in 2009 when he established himself as an elite receiver in the NFL. He was limited by a hip injury last season.

The acquisition of Rice would mean the Seahawks finally got the big-budget, big-name receiver they've been targeting ever since Pete Carroll arrived as coach.

Seattle courted Brandon Marshall of Denver last season before the Broncos wound up trading him to Miami. The Seahawks later inquired about adding Vincent Jackson of San Diego, whom the Chargers did not trade.

Now, the Seahawks land Rice who along with Santonio Holmes of the Jets was considered the top free-agent receiver.