Delegates from 48 bargaining units that take part in the union's National and Energy and Chemical Bargaining Program ratified the tentative agreement on Tuesday.
The 2013-2016 deal will see wage increases of 3.25 per cent, 3.5 per cent and 3.75 per cent.
"The national settlement sends a strong and positive message for the Canadian economy by raising the purchasing power of our members," said Dave Coles, the union's national president.
"The wage and shift premium increases, and the significant related impact of the wage increases to increase their future pensions, means greater economic security for thousands of energy workers across Canada, and for their communities also."
CEP national energy bargaining co-ordinator Joseph Gariso added the deal was the result of "tough, but respectful" bargaining with Suncor, Canada's largest energy company.
"It ranks as one of the best economic settlements in the 20-year history of the National Energy and Bargaining Program."