Parramatta's Jarryd Hayne has finalised a new four-year deal with the NRL club.

The hottest property in rugby league, Hayne's contract negotiations have dragged on for several months during which speculation mounted he was being targeted by the AFL's new Western Sydney franchise.

The 21-year-old Hayne was off-contract with the Eels in 2011 but the new deal, reportedly worth A$500,000 a year plus third party deals, will tie him to Parramatta until the end of 2014.