The deal was first reported by Sportsnet and has since been confirmed by MLB.com. The dollar figure is the full amount of the recommended slot value for the 29th overall pick.
Toronto has yet to make any public comments about the agreement and an official announcement is not expected until Harris passes his physical. The Blue Jays had a total pool allotment of $5,411,000 for the first 10 rounds of the Draft, which ranked 24th overall.
The Blue Jays felt fortunate to grab Harris with the 29th pick. There had been some speculation that he would be selected in the top 15, but several pitchers fell late into the first round and that led to Toronto grabbing Harris.
The 21-year-old Harris was ranked the 10th-best overall prospect in the Draft by MLBPipeline.com. He has the ability to hit 94 mph with his fastball and also has a curveball, slider and changeup in his repertoire.
Harris had an 8-2 record with a 2.45 ERA in 103 innings for Missouri State. He struck out 116 and walked 36 with one complete game in his third season with the Bears. Harris was named to the Collegiate Baseball Freshman All-America team in 2013.
Gregor Chisholm is a reporter for MLB.com. Read his blog, North of the Border, follow him on Twitter @gregorMLB and Facebook, and listen to his podcast. This story was not subject to the approval of Major League Baseball or its clubs.