Jon Heyman of FanRag Sports reported Altuve and the Astros agreed to a 5-year, $151 million contract on Friday.
Brian McTaggart of MLB.com initially reported Altuve was closing in on the deal. McTaggart noted the extension would start in 2020 since Altuve is signed through the 2018 campaign and the Astros have a club option for 2019.
This move makes perfect sense for the Astros considering how important Altuve has been to their recent success. He is just 27 years old and already has an American League MVP, four Silver Sluggers, three AL batting titles and five All-Star appearances on his resume.
He won his MVP last year for the World Series champions and slashed .346/.410/.547 with 24 home runs, 81 RBI and 32 steals. He also hit .310 with seven home runs in 18 postseason games, proving his mettle under the pressure-packed lights of October.
Houston has a young core in place that figures to keep it among the game's best moving forward. In addition to Altuve, Carlos Correa is just 23 years old, and George Springer is 28.
According to OddsShark, the Astros have the best odds to win the 2018 World Series entering the season at 5-1.
With Altuve reportedly locked up for the foreseeable future, Houston figures to continue competing for World Series in the coming years.