The 23-year-old forward was a restricted free agent. He had NHL career highs in goals (11), assists (29) and points (40) in 82 games last season, and three points (one goal, two assists) in six Stanley Cup Playoff games.
"I was happy with 40 points, but I'd like to score more goals," Bjorkstrand told the Blue Jackets website. "Growing up, I've always been a bit of a goal-scorer. I'd obviously like to increase those numbers and score some more goals, and that's something I really want to get better at next season.
"It's just consistency out there, having more games in a row where I pick my game up to a higher level. I really want to pick that up. I've played some good games up there. I've shown that I can be a good player, so if I can do it in one game, I should be able to do it in more games than just one. That's an area I want to work on."
Columbus selected Bjorkstrand in the third round (No. 89) of the 2013 NHL Draft. He has 61 points (21 goals, 40 assists) in 120 NHL games and four points (one goal, three assists) in 11 playoff games.
"Oliver is a gifted player with a tremendous shot and scoring instincts who has improved steadily during his first three seasons as a pro," Blue Jackets general manager Jarmo Kekalainen said. "He is just scratching the surface of the type of player he can be and we believe he has the potential to be a dynamic offensive player for our club."
