The actor, who plays David Platt, is said to have scored a massive £30,000 rise to keep him on the soap until the end of next year.
The Mirror reports the deal will make Jack, 30, one of the highest paid stars on ITV.
The 12-month deal is believed to be up from the £220,000 he earned last year and will keep him in Corrie until late 2019.
A source told the publication Jack's impressive performance in the David Platt rape storyline made him indispensable to soap bosses.
They said: "Jack is going nowhere for the next year and the executives are very happy.
"His new deal is richly deserved…
"The bosses are aware that stars are keen to maximise their earnings and his new deal reflects their desire to keep top talent in the show."
The deal means Jack will be staying on the show to celebrate his 20th anniversary after joining the cast in 1999 as David.
It comes after Jack recently expressed fears that David could end up leaving Corrie after the harrowing rape story, in which his character was attacked by pal Josh.
Jack said: "Ultimately in soaps I think if it does change the character then you must see what you want from the character.
“Do you want David Platt to change and, if so why? If he does change, does he eventually have to leave?"
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