Source: Mark Andrews' 4-year extension with Baltimore Ravens worth $56 million

OWINGS MILLS, Md. -- The Baltimore Ravens signed tight end Mark Andrews to a four-year extension on Monday, the team announced.

A source told ESPN's Jeremy Fowler that the deal is worth $56 million.

At $14 million per season, that makes Andrews the third-highest-paid tight end in the league, trailing only George Kittle ($15 million per season) and Travis Kelce ($14.3 million).

Andrews, who was scheduled to be a free agent at the end of the season, will receive $37.6 million in guaranteed money for 63% of the deal, the source told Fowler. He will be paid $26.6 million by March 2022.

The new deal was a timely birthday present for Andrews, who turned 26 on Monday.

"Mark is exactly the type of player we wish to keep as a Raven long term," Baltimore general manager Eric DeCosta said. "He's competitive, passionate, talented and a leader. We are so excited to have him in Baltimore for the next five years. Congratulations to Mark and his family -- and happy birthday."

A third-round pick in 2018, Andrews quickly became a favorite target for Lamar Jackson. Since Jackson took over as the starting quarterback in the middle of 2018, Andrews has caught 132 passes from him, which are 34 more than any other Baltimore pass-catcher. Over that time, Jackson has recorded a 74.0 Total QBR with Andrews on the field and a 64.0 QBR with him off it, according to ESPN Stats & Information.

Andrews' 17 touchdowns over the past two seasons top all tight ends and rank No. 8 in the NFL overall. He has totaled 2,105 yards receiving, the fifth most by an NFL tight end in his first three seasons over the past two decades. Only Kittle (2,945), Rob Gronkowski (2,663), Jimmy Graham (2,648) and Antonio Gates (2,454) have produced more in their first three seasons since 2001.

Andrews joined offensive tackle Ronnie Stanley and cornerback Marlon Humphrey as Ravens who signed lucrative extensions over the past 11 months.

With Andrews signed, Jackson becomes the next Baltimore player in line for a long-term deal. Jackson is signed through the 2022 season.