The deal is worth an average of $1.25 million per year, sources told ESPN.com's Piere LeBrun.
Bollig, who was set to become an unrestricted free agent after the season, is now signed through the 2016-17 season.
"We take a great amount of pride in having watched Brandon come up through our system and become a big part of our lineup on a daily basis," general manager Stan Bowman said in a statement. "We are pleased to be able to come to this agreement with him, ensuring that he will remain a part of our organization. We look forward to seeing his continued development with the Blackhawks."
The 27-year-old Bollig has six goals and six assists in 62 games this season. He leads the team with 138 hits and 69 penalty minutes. He has 13 goals and 11 assists in 146 career games with the Blackhawks.
Bollig was signed by the Blackhawks as a free agent on April 3, 2010.
ESPN.com's Pierre LeBrun contributed to this report.