The new contract reportedly carries an annual cap hit of $5.9 million per season.
Sharp is entering the last year of his contract, with a salary of $4.2 million this season.
In the 2010-'11 season, Sharp posted 34 goals, 37 assists, 71 points and was a minus-1 in 74 regular season games with the Blackhawks.
He helped lead the 'Hawks to their 2010 Stanley Cup win.
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