According to Scout.com NFL reporter Aaron Wilson, Jordan signed a five-year deal that includes offset language. In return, the Dolphins gave Jordan more upfront money.
It was similar to the deal signed last year by first-round pick Ryan Tannehill, although Tannehill didn't sign until the night of the first practice.
The third overall pick in the 2013 draft, Jordan was a two-time All-Pac-12 Conference selection. He recorded 121 tackles, 14.5 sacks and 29 tackles for loss at Oregon.
Jordan is expected to play a key role as a pass rusher for the Dolphins as a rookie, even though he's not likely to being in the starting lineup.
The previous rookie to sign had been third-round pick Dallas Thomas on June 14.