The No. 5 pick in the 2017 NHL Draft, Pettersson won the Calder Trophy as the NHL rookie of the year in 2019, and has scored 153 points (65 goals, 88 assists) in 165 NHL games. He can become a restricted free agent after this season.
"This is where I want to play," Pettersson said, "And for the contract situation, that's why I have agents. I'm not stressed to sign a contract. I'm just excited to have that signed and just look forward for the future."
Vancouver (23-29-4) finished last in the seven-team Scotia North Division this season; the top four teams qualified for the Stanley Cup Playoffs.
Last season Pettersson scored 18 points (seven goals, 11 assists) in 17 playoff games, tied with center J.T. Miller for the Canucks lead, to help Vancouver reach the Western Conference Second Round, where it lost to the Vegas Golden Knights in seven games.
Vancouver began this season 6-11-0, and following a six-day schedule break were 16-18-3 on March 30, when forward Adam Gaudette tested positive for COVID-19 and was pulled from practice. It was the first sign of an outbreak that extended to 22 players and four staff members, including coach Travis Green, testing positive. The Canucks had nine games postponed, didn't play again until April 18 and went 7-11-1 the rest of the way.
"I think what we did last year in the playoffs was we showed what we can do, that we can compete with the best teams in the League," Pettersson said. "This season we didn't start that well, I didn't start the season that well, then we got going after 10-15 games and I felt really good and then I injured myself and I've been gone since. So definitely been my most frustrating season."