That option will pay him $13.9 million for the 2019 season, per Spotrac.com.
A 2015 first-round pick, Cooper looked the part of a true No. 1 wide receiver over his first two seasons. As a rookie, the Alabama product registered 72 receptions for 1,070 yards and six touchdowns.
He followed up that Pro Bowl-caliber performance by logging a career-high 83 catches for 1,153 yards and five scores in Year 2.
However, Cooper regressed in 2017 despite finding paydirt seven times.
With the offense out of sync seemingly all season long, Cooper stumbled his way to 48 receptions for 680 yards. All told, he topped 100 yards in a game twice and managed more than five receptions in a single outing.
As it turns out, Cooper may have been playing hurt despite missing just two games.
"He would never say it to you, but I'll say it to you to have his back," quarterback Derek Carr said, according to SiriusXM NFL Radio's Eddie Borsilli. "That man was out there giving anything he could and honestly, a lot of guys probably wouldn't have played with what he had."
Now in the fold through at least 2019, Cooper figures to be a prominent piece of the Raiders' new scheme.
"He'll be the focal point of our offense," head coach Jon Gruden told reporters in February, according to NBC Sports Bay Area's Scott Bair. "... He has tremendous quickness. He's smart, versatile and he's a gamer. He likes the bright lights, and he'll be the headliner in our offense."