The 29-year-old Vardy has been rewarded for a record-breaking campaign that could finish with the Foxes securing the most astonishing title victory in the modern English game.
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This season, Vardy broke the league record by scoring in 11 successive games, and following an impressive 3-0 win at Manchester City on Saturday, Leicester holds a five-point lead in the standings.
”I’m absolutely delighted to be fighting to achieve something special with this club. I’ve never known a spirit like it – from the owners, to the manager and his staff, the players and the fans. I want to be part of it for a long time,” Vardy said on the club website on Saturday.
Leicester manager Claudio Ranieri added: ”He has shown what a fantastic player he is and, more importantly, he is part of a fantastic group. I am very happy that he will stay with us for a long time.”