LeVert's extension will kick in for the 2020-21 season.
The deal amounts to a very nice birthday gift for LeVert, who turned 25 years old Sunday.
"This is where I started my career, and this is where I want to continue it," LeVert said in a video posted Sunday evening.
With LeVert committing long term, the Nets now have most of their core under team control through 2022-23. Kevin Durant, Kyrie Irving, and DeAndre Jordan all joined the team on four-year contracts this summer, with Durant and Irving holding player options for the 2022-23 season.
Since being selected 20th overall in 2016, LeVert's role in Brooklyn has steadily increased. Although he was limited to just 40 games last regular season, the Michigan product still averaged a career-high 13.7 points per game.
Through three campaigns, he's averaged 11.1 points, 3.6 rebounds, 3.4 assists, and one steal in just under 25 minutes per contest.