Pickens was slated to become a free agent after his first season with the Cowboys and was signed in February.
The 25-year-old broke out with a career-best performance in 2025 with 93 receptions, 1,429 yards and nine touchdowns, all to top his four-year career en route to his first Pro Bowl selection.
While not the extension he wanted, Pickens is currently 15th in APY at $27.3 million.
Rapoport reported last week that the Cowboys had no plans to trade Pickens, a sentiment echoed in subsequent interviews with Dallas brass.
The Cowboys have previously called off long-term contract negotiations with Pickens. They still have until July 15 to win overtime if they choose to flip.