Maika Sivo will remain an Eel until the end of 2023.
The Fijian winger, fresh off a match-winning double against the Storm, was announced to have inked a two-year deal on Tuesday.
NRL.com reported last week that an extension was being finalised.
There was reported interest in the 27-year-old from rival NRL clubs and overseas rugby, but Parramatta are delighted to keep him.
"Maika has played an important role in our team over the last two seasons and we are delighted that he will continue to bring excitement to our members and fans, especially at Bankwest Stadium," Eels CEO Jim Sarantinos said in a club statement.
Growing up in Fiji, Sivo started in rugby union before relocating to Australia where he played local league for the Gundagai Tigers.
He was picked up by the Panthers, developing in their reserve grade ranks, before making his NRL debut in 2019 for Parramatta.
An excellent finisher, Sivo has bagged 39 tries in 48 matches and won the 2019 Ken Irvine Medal after scoring 20 four-pointers.
Sivo back at Bankwest and into the four-pointers
Sivo is set to play against the Sharks on Saturday night at Bankwest Stadium, where he has amassed 26 tries in 24 games and often compels home crowds to chant his name.
"I love it here. This is my third year [at Parramatta] and I love the people at this club," Sivo recently told NRL.com.
While Sivo is now locked away, the Eels still have some big names off-contract including Nathan Brown and Blake Ferguson.