Pedro has extended his contract at Chelsea until 2020, the club have confirmed.
The Spaniard moved to Stamford Bridge in 2015, leaving Barcelona for a £21 million ($27m) fee.
He has since become one of the most important attackers in the club’s arsenal, scoring 28 times in 131 appearances for the Blues.
Pedro has expressed his delight at penning a fresh deal under new manager Maurizio Sarri.
He said: “It is very good for me, I am really happy here in the club, with my team-mates, the supporters and the club in general.
“It’s important for me to continue with Chelsea, I am comfortable here and want to win new titles and trophies. I want to help the team, score goals, and I repeat, I am really happy.”
Club supremo Marina Granovskaia added: “We are very happy to secure Pedro’s services for another year.
“Since becoming a Chelsea player he has regularly demonstrated his quality on the field and we look forward to seeing him continue to flourish under the guidance of Maurizio Sarri.”