Adebayo and agent Alex Saratsis posted about the extension Tuesday on social media. Adebayo also spoke about the extension when he met with reporters at a Thanksgiving charity event he hosted on Tuesday in Miami.
"Hard work paid off for me," Adebayo told reporters. "That doesn't stop now. ... We still have business to handle."
Adebayo's new extension can escalate to as much as $195.6 million if he reaches incentives, such as an All-NBA selection.
"[My mom] is probably crying," Adebayo told WPLG Local 10 on Tuesday. "I dedicate everything I do to her. She is my pride and joy. She finally gets to relax and it's a blessing for me."
The No. 14 overall pick in the 2017 NBA Draft averaged career-highs with 15.9 points, 10.2 rebounds, 1.3 blocks and 1.1 steals per game in 72 appearances last season for Miami.
The 6-foot-10 Kentucky product was instrumental in the Heat's 2019-2020 campaign.
His 17.8 points, 10.3 rebounds, 4.4 assists per game throughout the postseason helped the franchise reach the NBA Finals, before they lost to the Los Angeles Lakers in six games on the NBA's bubble campus inside the Walt Disney World Resort in Orlando, Fla.
Adebayo's pact with the Heat is the richest contract in franchise history, in terms of total value. He will make $5.1 million in the final year of his rookie contract in 2020-2021.