McNeil, who made his debut in the final game of last season, has established himself in the first team, starting all games during the Clarets' current four-match unbeaten streak.
"I hadn't really thought this far ahead but I'm just happy it's come so soon," McNeil told the club's official website.
"I think I've taken my opportunity well and, hopefully, I can build on that."
Rochdale-born McNeil was part of Manchester United's academy until he was released at 14 and snapped up by Burnley.
The left winger was recently watched by England Under-21 coach Aidy Boothroyd and could feature in June's European Under-21 Championships in Italy.
(Reporting by Simon Evans; Editing by Ian Chadband)
Share
