The dual premiership player and Jack Dyer Medallist is now tied to the club until at least the end of 2027.
Short, who was drafted in the 2014 rookie draft, qualified as a free agent this year but will continue his 121-game career at Punt Road.
The 26-year-old has had an outstanding start to 2022, averaging elite numbers for disposals (ranked first at the Tigers) and meters gained (718.7m).
The Northern Knights product has had many highlights in his eight-year career, and looks forward to making more.
"It is really exciting. I am very lucky and grateful for the Club giving me a long-term contract," Short said.
"I want to repay the Club; I have had some very good times here already, and I am looking forward to the next five years."
Short said he's come a long way since his start at the club, and credits many around him in shaping him into who he is today.
"I started as a small little chubby kid, probably just trying to find my way, and I have had some great people around me that have taught me how to be an AFL footballer," he said.
"It has been a good journey and something I am very proud of; now I am looking forward to building on that and continuing to try and get better each year."