The news was first reported by Mike Garafolo of USA Today.
The Patriots have been busy in free agency, especially with regards to wide receivers. The team let Wes Welker walk last month, then immediately signed free-agent Danny Amendola. They also added free agents Michael Jenkins and Donald Jones and, earlier Wednesday, former Steeler Emmanuel Sanders signed an offer sheet with New England.
Edelman has spent all four years of his career with the Pats. His best season as a receiver came in his rookie year, when he caught 37 passes for 359 yards. Also a factor in the return game, Edelman has three career punt return touchdowns.