The deal, which carries an average annual value of $6,250,000, will keep Hill with the club through the 2030-31 season.
Hill was slated to become an unrestricted free agent at the end of this season.
The 28-year-old from Comox, B.C., holds a 24-11-4 record, 2.53 goals-against average and .906 save percentage in 39 games this season.
Hill emerged as the Golden Knights’ starting goaltender during the 2022-23 season and backstopped them to the Stanley Cup.
He holds a career 88-62-12 record, 2.64 GAA and .909 save percentage over eight NHL seasons with the Arizona Coyotes, San Jose Sharks and Golden Knights.
