"It doesn't change anything," Young said, according to MLB.com. "I'm still going to go out there and play ball. I'm still going to go out there and everything is going to be the same no matter if I had a contract or I was a guy just trying to stay on the team. I'm going to play the same way."
The contract is near the six-year, $31 million extension shortstop Troy Tulowitzki signed with the Colorado Rockies on Jan. 23, according to multiple media outlets. Young's contract buys out all of his arbitration years and includes a team option on a year of free agency.
The D-backs worked with Young on a new deal in spring training, but when the sides couldn't reach a long-term deal, the team renewed him for around $400,000. The team is expected to formally announce the new contract on Tuesday.
The Diamondbacks have already locked up several of their young players, including starters Brandon Webb and Dan Haren, outfielder Eric Byrnes and catcher Chris Snyder, who are all under contract through 2010.
New deal in hand, Young homered and went 2-for-4 with two RBIs in a 9-3 win over the Los Angeles Dodgers on Monday night.
The dynamic 24-year-old outfielder came to the Diamondbacks in December 2005 as part of the trade that sent right-hander Javier Vazquez to the Chicago White Sox. Arizona also acquired right-handers Orlando Hernandez and Luis Vizcaino in the deal.
After spending most of 2006 with Triple-A Tucson, Young had one of the best rookie seasons in the Diamondbacks' 10-year history.
Mostly batting leadoff last year, he established rookie franchise highs in homers (32), runs (85), steals (27), doubles (29), slugging percentage (.467) and extra-base hits (64).
Young was the first rookie in major league history with at least 30 homers and 25 stolen bases. Only one other rookie, Nomar Garciaparra in 1997, had 30 homers and at least 20 stolen bases.
Young's nine leadoff homers led the majors.
His batting average, though, was just .237, a figure that manager Bob Melvin expects to rise considerably this year.
Young was a 16th-round pick of the White Sox in the 2001 amateur draft out of Bellaire High School in Houston.
Information from The Associated Press was used in this report.