Set to come out of contract at the end of this year, the new deal ties the gun ball winner to the Demons until the end of the 2023 season.
Oliver was set to be one of the most sought after off-contract stars from this year’s crop, with Carlton believed to be among the clubs interested in him as a potential target.
But now, Oliver has put any speculation to bed of him requesting a trade as he recommits to the undefeated Demons.
“The club’s running unbelievable at the moment – 4-0, couldn’t be in a better place,” Oliver told Melbourne Media.
Oliver, 23, has enjoyed a blistering start to 2021 through four rounds – he has averaged a career-best 32.2 disposals, 16 of those contested, as well as 4.5 tackles and 7.5 clearances.
The dual best and fairest winner and All Australian has averaged 28 disposals and 15 contested possessions throughout the first 103 games of his career since being drafted to the club with Pick 4 in the 2015 AFL Draft.
Oliver said there is a good energy around Melbourne following a 4-0 start to the year. It undoubtedly would have played a big part in him putting pen to paper.
“[There’s] a lot of good energy through the group, a lot of positivity,” he said.
“Probably in recent years, when the other teams have got a run on against us, we’ve been a little bit negative, but we’ve matured as a group and we’re handling it a lot better.
“It makes it a lot ‘funner’ and we’re just laughing out there and having fun.”
It follows the re-signings of Jack Viney, Max Gawn, Kysaiah Pickett and Luke Jackson in recent times, while Christian Petracca, who is out-of-contract at the end of 2022, last week shut down links to Collingwood.