The Tennessee Titans have placed the franchise tag on running back Derrick Henry, sources told ESPN on Monday.

The Titans were able to use the tag on Henry after agreeing to a four-year, $118 million contract with quarterback Ryan Tannehill, a source told ESPN's Jeff Darlington on Sunday.

Henry, who turned 26 in January, won the NFL rushing title with 1,540 yards last season and is just reaching his prime after posting consecutive seasons of more than 1,000 yards.

Of all NFL running backs with at least 200 carries, Henry's 5.1 yards per carry was the highest last season.

He is the first running back to get the franchise tag after leading the NFL in rushing in the previous season. He is the third running back to get tagged and win a rushing title at any point in his career, along with Edgerrin James (rushing titles in 1999 and 2000, tagged in 2005) and Shaun Alexander (rushing title in 2005, tagged earlier in 2005 offseason).

Henry proved to be a valuable part of the Titans' offensive attack, especially in the playoffs. Entering the AFC Championship Game, he had accounted for 69% of the team's total offense. During the Titans' playoff run, Henry also became the first player to rush for 180 or more yards in three consecutive games.

The fourth-year running back took on more of a leadership role with the Titans last season, drawing praise from coach Mike Vrabel.

Since being selected in the second round of the 2016 draft out of Alabama, Henry has rushed for 3,833 yards on 804 carries (4.8 YPC) and scored 38 touchdowns. He also has caught 57 passes for 578 yards and three touchdowns.

ESPN's Adam Schefter, Dianna Russini and Turron Davenport contributed to this report.