João Pedro has signed a new contract with Chelsea, keeping him at Stamford Bridge until 2032 with an option of two further years.
The striker's previous deal, signed when he joined from Brighton for £60 million a year ago, was set to run until 2032 with the option of a further year.
The extension, on improved terms, comes in recognition of the impact he made in finishing his debut season with 20 goals.
"I am very happy to sign a new contract with Chelsea," he told the club's website. "I always dreamed of playing for a big club, and it means a lot to me to give my long-term commitment to this club. Chelsea has a long tradition of winning and it has big ambitions for the future.
João Pedro has signed a new deal with Chelsea. Photo by Visionhaus/Getty Images "I have a very good relationship with everyone here at the club and I have felt at home here in London from the moment that I joined.
"Everyone is very excited for this season. We know we can achieve a lot of things, we have a great team, we have a coach who wants to win and has won already. I am fully committed, everyone is ready and hopefully we can achieve our targets."
Chelsea's wage structure typically gives players lower basic salaries than they might receive elsewhere but on heavily incentivised terms, offering the possibility of moving up through salary brackets if performances warrant.
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Pedro, who was a surprise omission from the Brazil squad for this summer's World Cup, has reportedly been the subject of interest from Barcelona and Chelsea have moved to try and fend off risk of the 24-year-old being tempted away.
He is set to begin the season as manger Xabi Alonso's first-choice striker, with Liam Delap and Nicolas Jackson having been made available for transfer. Youngster Marc Guiu also has an uncertain future.
Danny Welbeck, who signed from Pedro's former club Brighton in July, is in contention to feature when Chelsea kick off their Premier League campaign away to Fulham on Monday.
Alonso also has new signing from Strasbourg, striker Emmanuel Emegha, on the books.