The Colorado Avalanche have signed Matt Duchene to a five-year contract extension that will run through the 2018-19 season, the team announced on Thursday.

Financial terms of the deal were not released by the team, but he's set to make $3.5 million during the 2013-14 season as part of the two-year contract he signed last year as a restricted free agent.

Duchene, the No. 3 overall pick in the 2009 draft, is coming off a bounceback season for the Avalanche that saw him score 17 goals to go with 26 assists in 43 games. It was his most productive season to date in the NHL and he did it while playing against the other team's best players on a nightly basis.

"Matt already is and will be a big part of our team's nucleus for the long term," Avalanche vice president of hockey operations Joe Sakic said in a team statement. "We all felt that it was important for us to secure his rights for several seasons. With his great skills, speed and character, he represents the identity we want the Avalanche to be."

In 266 career games he's scored 82 goals and recorded 111 assists.

Duchene, 22, is part of an impressive collection of young forwards in Colorado that also includes Gabriel Landeskog, Ryan O'Reilly, and 2013 No. 1 overall draft pick Nathan MacKinnon.