Neto has established himself as one of Chelsea's most important attackers since his £51 million move from Wolves in August 2024, making 108 appearances and contributing to 40 goals in that time.
The Portugal international played a key role in the club's Conference League and Club World Cup triumphs in 2025, scoring three times as Chelsea were crowned world champions.
This season the 26-year-old already has two goals to his name, including the strike on Wednesday that completed a dramatic comeback in Chelsea's 6-3 Carabao Cup win over Leeds. He had also been the subject of transfer speculation over the summer, with reports linking him to Manchester City and Tottenham, but he opted to remain at Stamford Bridge and commit his long-term future to Xabi Alonso's project.
"It's an unbelievable moment," Neto said after putting pen to paper on the new deal.
"From when I arrived, I have always felt like the people here helped me a lot. I feel like home here, I feel like I want to achieve more things here.
"I have had some good moments here as a group and as an individual, and now I want to have more of those moments. I'm really excited because I think we can achieve a lot of things together."
Neto quickly became a key figure in his debut campaign, scoring his first Premier League goal for the club against Arsenal before netting a dramatic late winner at Craven Cottage that helped secure Champions League qualification, a strike later voted the club's goal of the season for 2024-25.
Under Alonso this term, Neto has been deployed in an unfamiliar wing-back role and flourished alongside attacking players such as Morgan Rogers and Cole Palmer, having previously featured across the forward line, on either flank, as a false nine and in a number 10 role during his time at the club.
Pedro Lomba Neto, to give him his full name, arrived at Chelsea from Wolves for £51 million in 2024, having first moved to England from Lazio in 2019. He has also become a regular for Portugal, winning the 2025 UEFA Nations League and playing at this summer's World Cup, taking his senior cap tally beyond 20.
His new deal follows a similar six-year extension recently signed by fellow forward João Pedro, as Chelsea continue to tie down key attacking talent to long-term contracts under Xabi Alonso.