Allen's 40 quarterback hits last season made him the only player in the NFL since Aaron Donald in 2018 to achieve the feat.
The reigning Second-Team All-Pro defensive end finished the 2024 season with a career-high 61 tackles and 8.5 sacks, including a safety, while also leading the league among defensive linemen with 75 quarterback pressures and 16 tackles for loss
Allen originally signed a three-year, $47.75 million deal with the Broncos in 2023 as a free agent and is now coming off the best year of his career.
The 27-year-old can now call Denver home through 2029.