The second-round restricted tender will cost the Jaguars $2.914 million for the 2018 season.
Grant, 26, wound up signing on with the Jaguars as an undrafted free agent out of Auburn back in 2015. He has managed to make the 53-man roster in each of his first three years in the NFL.
Grant will be an unrestricted free agent in 2019.
In 2017, Grant appeared in all 16 games and rushed for 248 yards on 30 carries (8.3 YPC) to go along with three receptions for 41 yards receiving and two touchdowns. He also contributed 473 kick return yards.