The team did not disclose financial terms, but under the collective bargaining agreement, Robinson, who was drafted in the fifth round, will receive a four-year contract.
"It's a great feeling to sign my first NFL contract," Robinson said in a statement from the team. "It's something I've been waiting my whole life for, and I'm ready to get to camp later this month and get back to work. I was able to get a feel for the NFL game during the offseason, and I look forward to getting the pads on and just keep improving with each practice."
The Jaguars begin training camp on July 25, with the first practice scheduled the following day.
"We are excited to get Denard under contract," Jaguars general manager David Caldwell said in the statement. "He had a very productive offseason for us and will continue to get better with each practice. He's passionate about football and has been a very good team player."
Robinson had been listed as a running back on the Jaguars' roster until he was changed to offensive weapon last month. He was asked by the team's website last month what exactly the official designation entailed.
"That means I can play multiple positions," he said.
Robinson started 37 games at Michigan, including 35 at quarterback, and set the NCAA record for career rushing yards (4,495) by a quarterback. He agreed to move to receiver, running back or even cornerback before the draft.
Information from The Associated Press was used in this report.