The renewal comes as the club also closes in on a separate deal to add free agent defender Takehiro Tomiyasu, with an announcement on the Japan international expected imminently.
Okoro joined Venezia's academy in the summer of 2022 and impressed at Primavera level, scoring 20 goals and adding three assists in 61 appearances. He gained his first taste of senior football on loan at Serie C side Vis Pesaro in 2024-25, making 36 appearances with six goals and four assists across the league and Coppa Italia.
Last season he split his loan spell between Juventus Next Gen, where he played 18 matches and scored twice, and Serie B side Juve Stabia, where he added two goals and two assists in a further 18 appearances.
The club's official statement confirmed: "Venezia FC announces it has reached an agreement with Alvin Okoro for the extension of his contract, which will tie him to the club until 30 June 2031."
Venezia's business elsewhere is moving just as quickly. The club is on the verge of completing a deal for Tomiyasu, the 27-year-old Japan international defender who became a free agent after a brief, injury-hit spell at Ajax following his release from Arsenal.
Tomiyasu made just seven appearances for the Dutch club last season but featured for Japan at this summer's World Cup, and his versatility across the back line — comfortable at centre-back or either full-back spot — makes him an attractive addition regardless of squad rotation.
Venezia have offered a three-year contract worth around €1m net per season plus appearance-based bonuses, moving decisively to beat Sassuolo to the signing after the Emilia club held direct talks with the player as recently as Thursday morning. Those talks are understood to have left Tomiyasu unconvinced about a move to Sassuolo, with Venezia's more assertive approach putting them firmly in pole position.
The pursuit has taken on added urgency after defender Marin Sverko was ruled out for three to four months following hip surgery.
Together, the two pieces of business underline an active summer for the newly promoted club, who are simultaneously blending faith in academy talent with experienced additions as they prepare for a return to Serie A.