General manager Ruston Webster announced the move Tuesday.
Webster says Wright has been very competitive through his first three seasons as the 20th pick overall in 2012 out of Baylor. Wright had a team-high 94 catches for 1,079 yards in 2013 and 57 catches for 715 yards last season.
The general manager also announced the Titans have named their draft room after long-time scout C.O. Brocato with a plaque outside the room. Brocato is entering his 41st season with this franchise. He has been on the list of preliminary nominees for the Pro Football Hall of Fame three times, the last in 2008.
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