The 21-year-old forward was a restricted free agent. He scored 42 points (15 goals, 27 assists) in 55 games last season, tied for third on the Hurricanes with defenseman Dougie Hamilton (10 goals, 32 assists).
"It's actually an easy decision for me," Svechnikov said of the long-term contract. "... I want to be a Hurricane. We've got a great team here and great coaches. I thought we can win (the Stanley Cup) last year, but we didn't and I was a little bit frustrated. But I thought it was us or [the] Tampa [Lightning], and if we would [defeat] Tampa, we would go farther. So we've got a great team, great coaches and we've got to make it happen."
Svechnikov helped Carolina finish first in the Discover Central Division (36-12-8) last season and scored eight points (two goals, six assists) in 11 Stanley Cup Playoff games. The Hurricanes lost the best-of-7 Stanley Cup Second Round in five games to the Lightning, who won the Cup for the second straight season.
Selected by Carolina with the No. 2 pick in the 2018 NHL Draft, Svechnikov has scored 140 points (59 goals, 81 assists) in 205 regular-season NHL games and 20 points (nine goals, 11 assists) in 26 playoff games.