Wallis was reportedly the interest of Brisbane, Essendon and Carlton, although he decided to re-sign with the Bulldogs, and remain with the club he began his career with in 2011.
“We’re delighted that Mitch has committed to our Club,” Bulldogs’ General Manager of List and Recruiting, Sam Power, told the club’s website.
“He’s a heart and soul player at the Bulldogs, his work ethic is first rate and his determination to get the best out of himself, as well as to drive the standards of others and the team, is instrumental.
“We are thrilled that he is part of our future.”
The 25-year-old has played 123 games in his Dogs career, including 18 this season.
“It’s fantastic to be able to re-sign with a club that means so much to me and my family,” Wallis said.
“There was never any question about my commitment to the Club or my desire to remain here.
“We’re a young side showing some really positive signs, and I’m pleased that I’ll be here to contribute as we move forward.”