It has an average annual value of $9.58 million through the 2027-28 season.
"First and foremost, I love Columbus," Werenski said Friday. "It's kind of where I grew. I joined the League at 19, I'm 24 now, spent my whole career here now. It's been nothing but good to me and my family and it's a place that I've always enjoyed. Obviously I'm extremely happy to be here for seven more years."
The defenseman, who turned 24 on July 19, scored 20 points (seven goals, 13 assists) in 35 games this season. He did not play after April 8 because of a sports hernia that required surgery.
"I think Zach Werenski showed over his whole career that he's among the elite defensemen in the league," Blue Jackets general manager Jarmo Kekalainen said. "He's the clear No. 1 for us right now. He keeps growing in that role. He's still young, still getting better.
"We value him as a franchise defenseman."
Columbus (18-26-12) tied the Detroit Red Wings for last in the eight-team Discover Central Division and missed the Stanley Cup Playoffs for the first time since Werenski made his NHL debut in 2016-17.
The Blue Jackets traded defenseman Seth Jones to the Chicago Blackhawks on July 23, and he signed an eight-year contract extension with them July 28.
Columbus acquired defenseman Jake Bean in a trade with the Carolina Hurricanes on July 23, and he signed a three-year, $7 million contract ($2.33 million average annual value) on Thursday.
Forwards Boone Jenner (four years, $15 million, $3.75 million AAV) and Eric Robinson (two years, $3.2 million, $1.6 million AAV) each signed a contract extension Wednesday.
Columbus also signed free agent forward Sean Kuraly (four years, $10 million, $2.5 million AAV), re-signed forward Alexandre Texier (two years, $3.05 million, $1.525 million AAV), and had forward Patrik Laine accept a one-year, $7.5 million qualifying offer.
Selected by the Blue Jackets with the No. 8 pick in the 2015 NHL Draft, Werenski has scored 189 points (65 goals, 124 assists) in 335 NHL games. He is tied for third with three others among defensemen in goals since making his NHL debut (Victor Hedman, Roman Josi, Alex Pietrangelo), behind Brent Burns (76) and Dougie Hamilton (72).
Werenski has scored 13 points (four goals, nine assists) in 29 NHL playoff games.
In addition to trading Jones, Columbus lost free agent goalie Sergei Bobrovsky and forwards Artemi Panarin and Matt Duchene two offseasons ago, traded forward Pierre-Luc Dubois for Laine last season, and traded forward Cam Atkinson to the Philadelphia Flyers for forward
Jakub Voracek
on July 24.
"In terms of the changes, obviously that stuff happens," Werenski said. "We've seen it time and time again in Columbus and guys come and go and that's part of the business.
"But after seeing what they did last week with the [2021 NHL Draft] and players we got and the direction team's headed and talking with [coach Brad] Larsen, Voracek, Jenner, just talking with the guys, I fully believe in the plan and I think this thing's headed in the right direction."
NHL.com independent correspondent Craig Merz contributed to this report