Marus Trescothick, the 25-year-old England opener, is preparing to face Australia in the First Ashes Test on Thursday and was among the spectators as his county lost by eight runs to Gloucestershire in the Norwich Union League.
He said: "I'm delighted the new contract is settled. I had no thought of leaving Somerset, but wanted to be paid what I feel I am worth and was looking for security.
"I'm delighted with the way my career is progressing and hope to end my playing days as a Somerset player because I have always been very happy at the club.
"Now I am looking forward to taking on the Aussies. We may have to play out of our skins to win back the Ashes against a very good side, but I definitely feel we have a chance.
"Personally, I won't mind losing if we give a good account of ourselves over the course of the series.
"The manner of our defeats in the one-day internationals made them very hard to take, but I don't believe they have affected confidence in our ability to play Test cricket."
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