Griezmann also guided Atletico to their second Champions League final in three years, but missed on the prestigious trophy, both times to local rivals Real Madrid.
"I'm very satisfied, very happy to keep belonging to this family and this project," the France international said on the club's website (en.atleticodemadrid.com).
"I want to improve every year, and the club, the coaches and my teammates can help me to reach this goal."
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Griezmann, who was heavily linked with a move away from the club, is currently part of France's Euro 2016 squad and scored in his country's 2-0 victory over Albania.
(Reporting by Shravanth Vijayakumar in Bengaluru; editing by Sudipto Ganguly)
