Duchene was limited by injury to 14 goals and 14 assists in 58 games last season.
The 21-year-old was Colorado's third overall pick in the 2009 NHL draft.
In three seasons he has 65 goals and 85 assists in 219 games.
"Matt is an important part of our team," Avalanche general manager Greg Sherman said in a statement. "We are excited to come to terms with him and we look forward to seeing him at camp."
Duchene became the youngest player in franchise history to lead the team in scoring during the 2010-11 season with 67 points in 80 games.Suggest a correction