Devin Booker, the high-scoring guard at the heart of Phoenix's rebuilding plans, has signed a five-year, $US158 million maximum contract with the Suns.
Booker, 21, has emerged as the Suns' franchise player after averaging 24.9 points and 4.7 assists per game last season, his third year in the NBA.
"We are thrilled to announce this contract extension with Devin," general manager Ryan McDonough said in a statement.
"'Book' has been a pillar for the Suns franchise ever since he arrived in Phoenix in 2015. Devin and the team both wanted to extend his agreement with the club as long as we possibly could.
"This agreement reflects a commitment from both parties to the Phoenix community, the state of Arizona and Suns fans worldwide."
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Booker, the Suns' first-round draft choice and 13th pick overall in 2015, said in the statement that he is "humbled and honoured to commit to the Suns organisation long term.
"I have loved calling Phoenix home the last three seasons as this team and community are special to me," he said.
"Thank you to the Suns for drafting me and believing in me. I look forward to the future and pursuing a title as a Phoenix Sun."
The team has added top-tier prospects such as this year's No.1 draft pick Deandre Ayton, Mikal Bridges and Josh Jackson in the past couple seasons.
Booker has shot 42.6 per cent from the floor in his career, including 36.5 per cent from beyond the arc.
He has averaged 19.8 points, 3.5 assists and 3.3 rebounds in 208 games, including 183 starts.
Booker, who has 4,120 career points, eclipsed the 4,000-point mark on March 2 at 21 years, 123 days old.
In NBA history, the only two players to reach 4,000 points at a younger age were LeBron James and Kevin Durant.
