Ellis was set to become an unrestricted free agent at the conclusion of the upcoming season, but the extension will now keep him under contract through the 2026-27 campaign. He's currently in the final year of a five-year, $12.5-million deal that pays him just $2.5 million per season.
"Ryan is a huge part of our team on and off the ice and we are happy to have his leadership remain in our locker room for the foreseeable future," general manager David Poile said in a release. "We have talked about wanting to keep the core of our team together, and this is another opportunity to help us do so while continuing to compete for a Stanley Cup. Ryan is entering his prime and is one of the reasons why we feel this team has a chance to win every time we step on the ice."
The 27-year-old Ellis is coming off his seventh season in the league, in which he posted nine goals and 32 points despite playing only 44 games due to injury. He also finished tied for ninth among all NHL defenders in points per game (0.73) among those with at least 30 appearances.
Overall, Ellis has tallied 55 goals and 173 points in 396 career games, the sixth-highest point total among defenseman in Predators franchise history.