The young defender spent the last season on loan at Brighton and was highly rated for his performances with the side.
The 20-year-old defender has maintained a consistent spot under Mauricio Pochettino and has helped the team keep four clean sheets this season.
Colwill was heavily linked with a summer exit following his meteoric rise at Brighton but the youngster decided to stay with his boyhood club until at least 2029.
In his 2022/23 breakout campaign, Colwill helped England U-21s secure the European Championships as the Three Lions did not concede a goal in the tournament.
Man United legend Rio Ferdinand believes Colwill will become a future star with the England national team.
“I see him as the England centre-half in waiting because I think he’s got everything,” said the former Manchester United defender.
“I seen him at Brighton, composure, asked to play a different way, adapted straight away. As long as he stays on it, his mindset stays strong, works at his game still, I think he’s got a huge opportunity.”
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