Skinner, 20, is playing under an entry-level agreement that runs through next season. The new deal covers the period 2013-19. He is to be paid $4.35 million in 2013-14 and $6 million a season over the next five seasons.
"Jeff is a cornerstone player for our team and his long-term commitment to the Hurricanes is great news for our franchise and our fans," said Hurricanes President and General Manager Jim Rutherford.
"At 20 years old, he is still in the very early stages of his career and we felt it was important to ensure he would be spending much more of it in Raleigh."
Skinner was voted the Calder Trophy as the NHL's top rookie in 2011 after a season in which he scored 31 goals and had 32 assists. He scored in 20 games and had 24 assists last season, giving him 107 points over his first 146 NHL games.