Wojnarowski noted Anunoby holds a player option for 2024-25 under the new deal.
Anunoby had one season remaining on a four-year, $9.8 million deal that he signed as a rookie out of Indiana in 2017. Had he not agreed to an extension, he would have become a restricted free agent in 2021.
Anunoby averaged 10.6 points on 50.5 percent shooting, 5.3 rebounds and 1.4 steals per game last season. He started all but one of his 80 regular-season and playoff games for the Raptors, who finished with the NBA's second-best regular-season record before falling to the Boston Celtics in the Eastern Conference Semifinals in seven games.
Anunoby notably came through in the clutch on multiple occasions during the playoffs, never more than when he hit a buzzer-beating three-pointer to give Toronto a 104-103 win in Game 3. He also had a pair of double-doubles during the series.
The 23-year-old's offensive improvements portend well for a fruitful and long NBA career. He's already excellent on defense, finishing sixth among 99 small forwards in defensive real plus-minus last year, per ESPN.
Anunoby also finished with career-high marks in points per game, assists, field-goal percentage, three-point percentage and free-throw percentage. His 39.0 percent three-point percentage in particular made him a strong offensive asset for the Raptors.
The Raptors clearly see the value in Anunoby's long-term potential, and now they've inked the ex-Hoosier to a long-term pact.