Baalke served as the club's interim general manager to close out the 2020 season following the firing of Dave Caldwell. He'll now join forces with new head coach Urban Meyer.
The general manager's role in the Jaguars' roster management remains to be seen. Team owner Shad Khan said earlier this month that Jacksonville will be "carrying out Urban's vision for the team," according to MMQB's Albert Breer.
This will be Baalke's second opportunity as a general manager after serving in the same role with the San Francisco 49ers from 2011 to 2016. Baalke brings a proven track record, as the 49ers reached the conference championship on three consecutive occasions during his tenure.
The Jaguars will have a fortune of flexibility to work with this offseason. Jacksonville is slated to pick first overall in the upcoming draft and projected to have over $75 million in cap space next season, the most in the NFL, according to Spotrac.