A source said the Eagles are giving McCown a one-year deal that includes $2 million fully guaranteed and could be worth up to $5.4 million.
McCown, 40, was planning to be an ESPN analyst this season but had wanted to play and told the network that if the right opportunity came along, he strongly would consider it. Now it has.
He plans to resume his broadcasting career with ESPN after the season, a source said.
The Eagles have lost two quarterbacks this preseason — Cody Kessler to a concussion this week and Nate Sudfeld to a broken bone on his left wrist last week — but Philadelphia was interested in McCown even before then.
Philadelphia will be McCown’s 11th NFL team and first NFC East team. He spent the past two seasons with the New York Jets, going 5-11 as a starter while throwing 19 touchdowns and 13 interceptions overall.
The Eagles expect Sudfeld, who received a second-round tender during the offseason, to return this season.