CBSSports.com reported the Saints' decision on Ingram's fifth-year option earlier Tuesday.
New Orleans has exercised a similar option on defensive end Cameron Jordan, worth $6.97 million in base salary. The Saints have until Saturday to do so for Ingram, who like Jordan was a 2011 first-round draft choice.
Ingram, the 2009 Heisman Trophy winner, said last week he wasn't sure what New Orleans would do. Coach Sean Payton echoed those sentiments last week, acknowledging that the club had not decided.
Hampered by a toe injury that caused him to sit out five games, Ingram rushed for 386 yards and one touchdown last season, averaging 4.9 yards per carry.
Ingram's best performance came against Dallas, when he rushed for 145 yards and a touchdown. He rushed for 97 yards and a score in a playoff victory at Philadelphia.
Information from The Associated Press contributed to this report.