Suzuki signed a one-year, $2.8 million contract with the Twins in December. His extension runs though 2016, with a vesting option for 2017. Suzuki will earn $6 million each of the next two seasons.
The deal comes just days after it was reported that the Twins and Suzuki were not close to an extension.
Suzuki, 30, made his first career All-Star appearance this season. He is batting .304/.367/.386 this season, with 41 RBIs.
With Joe Mauer moving full-time from catcher to first base this season, Suzuki is the Twins' everyday catcher.
- Dan Gartland