Pittsburgh, PA (Sports Network) - The Pittsburgh Penguins and star forward Evgeni Malkin have agreed to terms of an eight-year contract extension worth $76 million.
The deal begins with the 2014-15 season and runs through the 2021-22 campaign. He will earn $9.5 million for each of the eight seasons.
"Today i agreed on new deal with Pens," said Malkin on his Twitter account. "I am so happy to stay here, in my favorite hockeytown! Thanks to you fans!"
Malkin won the Hart Trophy as league MVP in 2012 when he led the NHL in scoring with 109 points, registering 50 goals and 59 assists. He followed with just nine goals and 24 assists for 33 points in 31 games during an injury- filled lockout-shortened 2013 campaign.
A shoulder injury and concussion kept Malkin out of the lineup for a few weeks during the regular season. However, he tied for the team lead with 16 points in 15 playoff games this spring, but failed to record a point in the four-game sweep at the hands of Boston in the Eastern Conference finals.
The 26-year-old native of Russia is already Pittsburgh's seventh-leading scorer all-time with 560 points in just 458 regular-season games. He has 217 goals and 343 assists, also winning the NHL scoring title during the 2008-09 season.
"(Malkin) made it very clear that this is where he wanted to play and if we could possibly make it work he wanted to sign an extension," said Penguins general manager Ray Shero.
Malkin won the Calder Trophy as the league's top rookie in 2007 and captured the Conn Smythe Trophy as the playoff MVP in leading the Penguins to their last Stanley Cup title in the spring of 2009.
The Penguins selected Malkin with the second overall pick of the 2004 draft, behind only Washington's Alex Ovechkin.
Pittsburgh has now signed its top two stars to long-term contracts, as Sidney Crosby inked a 12-year extension last June.
06/13 12:35:13 ET