Tim Buckle, president of the Royal Newfoundland Constabulary Association, says the union is recommending acceptance of the four-year deal.
The association represents 380 non-commissioned ranks of the police force, including constables, sergeants and staff sergeants.
They have been without a contract since June 2012.
The provincial government declined to release details of the agreement, as did Buckle, who said the association is waiting until the results of a ratification vote expected in the next few weeks.
The deal is the first in the government's round of negotiations this year with public sector employees as it grapples with an anticipated deficit.