The 24-year-old forward was a restricted free agent and avoided a salary arbitration hearing scheduled for Nov. 4. He set NHL career highs in goals (13), assists (17) and points (30) in 68 games last season. Foegele also tied for fifth in the NHL with three shorthanded goals and scored one goal in eight postseason games.
"Warren has shown improvement each year of his professional career," Hurricanes general manager Don Waddell said. "We expect him to continue to develop and enhance his role on our team."
Selected by Carolina in the third round (No. 67) of the 2014 NHL Draft, Foegele has scored 48 points (25 goals, 23 assists) in 147 regular-season games and 10 points (six goals, four assists) in 23 Stanley Cup Playoff games.