Edmund reports that rising midfielder Sam Powell-Pepper has also agreed to a three-year extension.
It’s a major boost for the club sitting on top of the ladder on the eve of finals, with Dixon’s future generating plenty of speculation in recent weeks.
There were reportedly “jubilant scenes” at Alberton on Monday morning as players were given the news.
Dixon, who turns 30 later this month, is enjoying a career-best season, currently sitting third in the Coleman Medal race with 27 goals.
The power forward was linked to a move to the Brisbane Lions last week but is now locked in at the Power until the end of 2023.
Powell-Pepper, 22, has put together a strong season across half forward and in the midfield, where he has averaged 15.1 disposals and four tackles per game.
— PowerFromPort (@PowerFromPort) August 31, 2020