Chelsea announced the extension on Saturday, securing the England international’s future at Stamford Bridge for another eight years.
Since arriving from Manchester City in August 2023, Palmer has recorded 91 goal contributions in 138 appearances, while helping Chelsea win the UEFA Conference League and FIFA Club World Cup.
The 24-year-old said conversations with the club’s ownership, sporting directors, manager and fellow players had convinced him that Chelsea offered the right environment for his ambitions.
“Chelsea means a lot to me and I think the club is going in the right direction, so I’m delighted to sign and I’m obviously very happy,” Palmer said.
“Speaking to the owners, to the sporting directors and obviously the manager, they gave me a lot of confidence so it was only right to sign.
“Speaking to players as well, everyone has the same ambitions. I feel like we win major trophies here consistently and I want to be a part of that and play a big role in it too.”
Palmer’s impact was immediate following his move to west London. He scored 25 goals and supplied 19 assists in all competitions during his first season, earning Chelsea’s Player of the Season and Players’ Player of the Season awards.
He also collected the Premier League Young Player of the Season and PFA Young Player of the Year honours, underlining the scale of his breakthrough.
His debut campaign included consecutive Premier League hat-tricks, while he later produced four goals in the first half of Chelsea’s victory over Brighton and Hove Albion.
Palmer remained influential in his second season, registering a hat-trick of assists against Wolverhampton Wanderers before helping Chelsea secure European silverware.
He supplied two assists in the Conference League final against Real Betis and then delivered another decisive performance at the FIFA Club World Cup, scoring twice and setting up Joao Pedro in the final against Paris Saint-Germain.
Last season brought a further 14 goal contributions, including a hat-trick against Wolves and a Champions League goal against Bayern Munich.
Palmer has also made his mark internationally, becoming only the second England player to score in a European Championship final when he struck against Spain at Euro 2024.
He has started the current campaign with four goals and two assists in Chelsea’s opening seven matches.
The new contract reflects Chelsea’s determination to retain a player central to their attacking plans. Palmer, meanwhile, has made clear that he wants to help the club compete for major honours consistently over the coming years.