The 26-year-old signed a five-year contract when he joined Chelsea for £50m from Leicester City in the summer of 2020.
Chilwell has now added two more years to his stay with the Blues.
Chilwell has made 80 appearances in total during his time at Stamford Bridge, winning the UEFA Champions League in his first campaign and also adding the UEFA Super Cup to his list of laurels.
It has not all been plain sailing for Chilwell at Chelsea, having suffered an Anterior Cruciate Ligament injury that ruled him out for six months last season and a serious hamstring injury that ruled him out of the FIFA World Cup in Qatar earlier this term.
Nonetheless, Chilwell has contributed two goals and two assists across 25 appearances this season.
In an official statement on the club's website, the left-back said: "I feel very settled at Chelsea and have really enjoyed my time on the pitch here so I’m very pleased the club want me to be part of the project long-term, and am very happy to sign this extension to my contract.
"We are working hard for success and I will do my best to bring more smiles to the faces of the fans who have made me feel so welcome."