TSN's Bob McKenzie reports Nolan will earn $2.85 million under the new contract.
Nolan, 25, has played his entire career with the Kings since being a seventh-round pick in the 2009 draft. He won the Stanley Cup with Los Angeles in 2012 and 2014.
In 36 games this season, he has four goals. During his four-year career in Los Angeles, he has recorded 14 goals and 10 assists.
Los Angeles hosts the Detroit Red Wings on Tuesday.
- Paul Palladino