Financial terms were not immediately available, but a source indicated it was fully guaranteed deal that includes a fifth-year option.
According to the team, Neal will sign his contract before rookies report for minicamp on Thursday.
"Glad to get it done and out of the way," Neal told ESPN.com. "Ready to focus on football and work towards getting to the Super Bowl."
Neal, a strong safety out of Florida, was the 17th overall pick in the draft. Last year’s 17th pick, Arik Armstead of the San Francisco 49ers, signed a four-year deal worth a fully guaranteed $9,842,628 with a signing bonus of $5,418,276.
With the way contracts are slotted now, Neal and his agent, Harold Lewis, obviously believed there was no need to drag out the process.
Neal is expected to make an immediate impact as the team’s starting strong safety.