Schwarber was second in Major League Baseball with 56 home runs and first with 136 RBI - both were career-highs for the 32-year-old lefty.
Now he'll remain the Phillies' premier power hitter for another five years as they continue to make a World Series push.
The team also announced they have signed manager Rob Thomson to an extension, keeping him on the team through the 2027 season.
Thomson has been the Phillies manager since 2022 and has now led them to three straight seasons with at least 90 wins.
Philly put up 96 wins under Thomson last year - their most since 2011 when they won 102 games.
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