Freddie Burns, 25, has scored nearly 200 points for Tigers since he moved from Gloucester Rugby in the summer of 2014.
An England international with five Test caps, Burns said: “When I first came to Tigers last summer, I always thought of it as a long-term move for me, not a short-term fix, and I’m very happy to have agreed a new contract to stay.
“Leicester is a great club with a lot of history and hopefully this group of players can add some history of their own.”
Tigers director of rugby Richard Cockerill said: “Freddie has worked very hard since he arrived last summer and he is enjoying his time with the club, working with head coach Aaron Mauger and the rest of the coaching team and the squad.
“He is really keen to continue to develop his game and progress his career with us and I’m very happy he has committed to stay here.”
Burns made 28 appearances in his debut season in 2014/15 and is now approaching fitness again after suffering a fractured jaw during the a pre-season programme in October.