Marchand has one season remaining on his current two-year, $5 million deal. Marchand's new contract will start in 2013-14 and conclude in 2016-17.
"He's still 24, in the prime of his career," GM Peter Chiarelli said during a conference call. "It's been an interesting journey to watch him get to this point. I like the whole package. He plays the way we want guys to play, in their own way -- to be aggressive, strong on the puck, enthusiastic."
Marchand scored 28 goals and 27 assists in 76 in 2011-12. Marchand served primarily as Patrice Bergeron's left wing with Tyler Seguin riding on the right side.
Marchand has developed into one of the teamís most important all-around players. Among forwards, Marchand (17:37) trailed only Bergeron (18:34) and David Krejci (18:25) in average ice time per game. With Bergeron as his partner, Marchand averaged 1:23 of penalty-killing time per appearance. Marchand also earned 2:09 of playing time on the power play per game.
Chiarelli said there wasn't necessarily a demand to agree on an extension prior to Sept. 15, when the current collective bargaining agreement will expire.
Seguin, Marchand's linemate, should receive his own extension sometime next week.