The 27-year-old Ukraine international joined from Dynamo Kyiv in January 2022 and has since made 157 appearances for the Toffees — a run of games that has seen him evolve from a promising import into an established figure at the heart of a defence now managed by David Moyes.
Mykolenko spoke about his decision and what the club means to him personally.
"I feel excited to sign this new contract — very excited and proud. I remember the first message I received from Seamus (Coleman) when I signed in 2022. I remember reading it and thanking him for welcoming me. He gave me that confidence immediately that I'm in a proper family here."
He acknowledged the difficult early years but drew a direct line from that adversity to the club's current trajectory.
"In the first few years of my time here we were struggling, but our team, as a family — every person in the building gave everything to get through it. What we have now is stronger and we are getting better every season."
He credited Moyes for giving him the freedom to express himself.
"Since the manager came in, I think we are building up. He's a very good person, which is important for me, and as a manager, he gave me freedom on the pitch."
His ambitions for the coming seasons were characteristically direct.
"I like to have realistic dreams — winning a trophy or maybe a European trophy, as some other teams have done in the past few years. Next season, we want to finish much higher."
Mykolenko has four goals in Everton colours, including a Goal of the Season contender — a sweet 20-yard volley in a victory at Leicester City in May 2022.