The 20-year-old center is playing the final season of a three-year, entry-level contract and could have become a restricted free agent after the season.
"I'm so excited to sign this deal for myself and for my family," Hughes said. "I love being in New Jersey and I love playing in New Jersey. I wouldn't want to play anywhere else, and we are really building something special. I believe in what we are doing here, and we have a great chance to be successful for a long time."
Hughes has scored three points (two goals, one assist) in three games this season, including a 5-2 loss to the San Jose Sharks on Tuesday. He returned after missing 17 games because of a dislocated shoulder.
"It's a fantastic day for the organization and for our team, and for Jack and his family," Devils general manger Tom Fitzgerald said. "It's a step toward where we want to go, and locking up a player, long term, like Jack is a great step."
The No. 1 pick in the 2019 NHL Draft, Hughes has scored 55 points (20 goals, 35 assists) in 120 games.
"When New Jersey drafted me, I didn't know much about it," Hughes said. "But I love being in New Jersey. I love playing in New Jersey. I think we're really building something special. I think this contract shows that the team is extremely invested in me, and I'm really dedicated to the organization. Mutually, we're both really excited."
Hughes scored 21 points (seven goals, 14 assists) in 61 games as a rookie in 2019-20, and 31 points (11 goals, 20 assists) in 56 games last season.
"There are a lot of 86 (jerseys) out [at Prudential Center] when I look around," Hughes said. "The fans really appreciate me here. I'm just extremely thankful to be a New Jersey Devil. The fans are awesome. They've treated me like gold ever since I've come here. Now I have to return the favor and be a star for the next decade. I know it'll come, and I know it'll happen. It's an extremely exciting time in New Jersey."
Fitzgerald said contract talks began around the first week of the season.
"When he did get injured (in the second game), I had a follow up with him and chance to sit down with (agent) Pat Brisson in [Los Angeles] and just had a great conversation where we felt Jack was and his thoughts on Jack and really the mutual marriage that we wanted to get into with both was hand-in-hand with us," Fitzgerald said.
New Jersey signed center Nico Hischier to a seven-year, $50.75 million contract ($7.25 average annual value) on Oct. 19, 2019. The 22-year-old was the No. 1 pick in the 2017 NHL Draft. The Devils selected Hughes' younger brother, defenseman Luke Hughes, with the No. 4 pick in the 2021 NHL Draft.
"We have a great young core starting with myself and Nico," Hughes said. "We're building something really special here. We've picked up some great pieces but we're building from within. Down the road, we can be a serious contender."
The Devils have not qualified for the Stanley Cup Playoffs the past three seasons. They added defensemen Dougie Hamilton and Ryan Graves this offseason to a roster with several young players making an impact, including forwards Jesper Bratt, 23; Yegor Sharangovich, 23; and Dawson Mercer, 20; defenseman Ty Smith, 21; and goalie Mackenzie Blackwood, 24.
"I think it's his confidence and that's what you love about Jack," Fitzgerald said. "He's very confident about his ability and [he] should be. He's a great player. And we think we think he can be one of the elite players in the league. As he grows and develops and matures as a player, the sky's the limit."
