Kings general manager Rob Blake expressed his excitement about the deal in a statement on the team's website:
"Drew Doughty is one of the best defensemen in the world and we are obviously excited to have reached this point in the process in which he has committed to the Kings long-term. This is great news for our organization and our fans and we will comment further once the contract has been signed and formally announced."
According to Sportsnet's John Shannon, the average annual salary will be nearly $11 million.
Since being taken with the No. 2 overall pick in 2008, Doughty has never put on a sweater for any team other than Los Angeles. The defenseman has piled up 102 goals, 320 assists and 422 points (trailing only Blake in Kings history in all three categories) in 770 career games.
In 2017-18, Doughty totaled 10 goals, a career-high 50 assists and a career-high 60 points while posting a plus-minus of plus-23.
He has been a big part of the franchise's success over the past decade. The Kings have missed the playoffs just three times since he entered the league and have won two Stanley Cups.
Doughty was honored as the league's top defenseman with the Norris Trophy back in 2016, and he has earned four consecutive All-Star nods.
This is just the latest big splash the Kings have made. Earlier in June, they signed three-time All-Star Ilya Kovalchuk to a three-year deal.