The news was first reported by Robert Murray of FanSided, who stated that the deal could reach upwards of $200 million and includes an option to extend it for a tenth year.
"Jackson Merrill and the San Diego Padres are in agreement on a nine-year, $135 million contract extension, sources say," he reported on X.
"The deal, which can max out at $204 million and includes a $30 million club option for a tenth season that can convert to a player option, was negotiated by Drew Hardee and Josh Knipp of KHG Sports."
Merrill signed for the Padres in 2021, and after stints in the minor leagues, he made his MLB debut at the start of the 2023 campaign.
That summer, he became the first rookie in the club's history to make the All-Star Game when he was chosen to be a reserve player, and he's since established himself as one of the league's best.