Master P’s son, Hercy Miller, isn’t wasting any time … ’cause the incoming college freshman hoops star tells us he JUST signed a multi-million dollar deal.

TMZ Sports caught up with P and 19-year-old Hercy in Beverly Hills … a day after the NCAA announced they’ll allow athletes to make dough off their image and likeness.

“It was a 2 million dollar deal. It’s incredible. This is gonna change the way college athletes want to stay in school,” P says.

Remember, a few months back Master P told us he lined up this deal … and was just waiting patiently for the regulations to change.

Well, rule changed, check … and Hercy didn’t wait long before signing his name on the dotted line.

“I signed a deal with an American technology company. Like my dad said, it’s a blessing,” Hercy — an incoming frosh at Tennessee State — tells us.

A teenage with a couple milli in the bank … so what’s Hercy gonna do with all that cash??

“I learned from my dad, I’m gonna start off by giving back to the community and everyone around me. I have a camp July 21,” Hercy says.

“I’m giving back to the kids. Giving school supplies.”

Hercy says he’s also going to treat himself to a Tesla.

Congrats, young man!!

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