"I am grateful and excited to have the opportunity to continue to lead this team and build upon what we have accomplished so far," Bednar said. "We know we still have yet to achieve our ultimate goal, but we are confident in the group we have and will continue to work hard to get there. I'd like to thank Stan and Josh Kroenke, (general manager) Joe Sakic and the entire Avalanche organization for their continued faith in me. My family and I love Colorado and are thrilled to be a part of this wonderful community."
The Avalanche are 8-5-1 under the 49-year-old this season after he guided them to the Presidents' Trophy as the top regular-season team in the NHL last season, when they went 39-13-4 before losing in six games to the Vegas Golden Knights in the Stanley Cup Second Round.
"It's well-deserved," defenseman Erik Johnson said after Colorado's 7-3 victory against the Seattle Kraken on Friday. "And think about where we came from when he first got here, to where he's kind of ascended to and where we're still hoping to get to. And he is a big reason [for] it and it's good for him. We're happy for him."
Bednar is 192-154-40 in six seasons with Colorado and 24-19 in the Stanley Cup Playoffs. The Avalanche have lost in the second round in each of the past three seasons.
Bednar was hired to replace Patrick Roy on Aug. 25, 2016.
"Jared has established himself as one of the top coaches in the NHL," Sakic said. "He is a great leader who has the complete trust of our players and staff. Under his guidance our team has continued to make great strides and improve every year. We know he is the right person to help us take that next step and compete for a Stanley Cup."
