Vlasic and Jones each could have become an unrestricted free agent after next season. Saturday was the first day either was eligible to sign an extension.
"I've always wanted long term. Every contract I've signed has been long term," Vlasic said. "Yeah, I wanted long term because I want to be in San Jose for a long time."
Vlasic, 30, had 28 points (six goals, 22 assists) and was plus-4 in 75 games this season. He has 254 points (53 goals, 201 assists) in 812 games during the past 11 seasons, all with San Jose. Vlasic helped the Sharks reach their first Stanley Cup Final in 2015-16, finishing with 12 points (one goal, 11 assists) and a plus-14 rating in 24 playoff games. San Jose lost to the Pittsburgh Penguins in six games.
He will play the final season of a five-year contract at an NHL salary cap charge of $4.25 million.
"[He's] one of the most respected players in this league, certainly one of the best defensemen," Sharks general manager Doug Wilson said. "Not only the best stopper, but we expect even more offense from him going forward. We think he's coming into the prime of his career. He's a great athlete. I'm not sure there's many other people in the game that think it like he does. He's very important to us."