Gleason will be paid $3.5 million in 2012-13, $4.5 million in 2013-14 and 2014-15 and $3.5 million in 2015-16.
"We thank Tim for choosing to stay with the Hurricanes long term," General Manager Jim Rutherford said. "He is one of our core players, someone who brings character and leadership to our locker room, along with being a key piece on the ice. This is a very important signing for our team going forward."
Gleason has one goal, 13 assists and a plus-two rating in 51 games this season. He leads all Hurricanes defensemen in hits with 87 and total minutes played with 1,063.