File Photo: Fiorentina's Moise Kean fights for the ball with Bologna's Jhon Lucumi' during the Italian Enilive Serie A soccer match between a.c.f. Fiorentina and Bologna f.c. at the Artemio Franchi Stadium, Firenze, northern Italy. AP
Italian media report that Kean's salary has more than doubled to 4.5 million euros (£5.1 million) a season, with a release clause of 62 million euros which can only be activated in the first 15 days of July.
"We've made a great effort financially speaking to keep him at the club by extending his contract with us," said Fiorentina president Rocco Commisso in a statement.
"I'm delighted with this choice, which is for the good of the club, our fans and the player himself."
Kean had his best ever season in club football after signing for Fiorentina last year, netting 25 times in 44 appearances in all competitions.
The 25-year-old was on Friday selected in new coach Gennaro Gattuso's first Italy squad, and he will start against Torino for Fiorentina on Sunday evening.
Kean has scored seven times for Italy in 21 international appearances, his most recent coming in a 3-3 draw with Germany in the Nations League quarter-finals.
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