The speedy former third-round draft pick from Lane College caught 31 passes for 512 yards and two touchdowns last season.
The Texans obtained two wide receivers in the draft, selecting Ohio State's DeVier Posey and Michigan State's Keshawn Martin in the third round and fourth round, respectively.
Martin is a highly-regarded kick returner.
Although the Texans shopped Jones to other NFL teams during the draft, they were unable to strike a deal.
There were unconfirmed reports that the Cleveland Browns declined the Texans' offer to exchange Jones for quarterback Colt McCoy.
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