New York Knicks All-Star forward Julius Randle has agreed to a four-year, $117 million contract extension -- elevating his deal's total value to five years and $140 million, his agents, Aaron Mintz and Steven Heumann of CAA Sports, told ESPN.

The extension includes a player option on the final season in 2025-26.

Randle had a remarkable, breakthrough season for the Knicks, earning the NBA's Most Improved Player award and second-team All-NBA honors on his way to leading the franchise back to the playoffs with a fourth seed in the Eastern Conference.

Randle could've waited for his contract to expire next season and signed a new $200 million deal, but extending now off his current $19.8 million salary for 2021-22 gives the Knicks financial flexibility to shape the roster and allows him to commit through his prime to a franchise and city he has come to adore -- and one that has come to adore him.

Randle, 26, flourished under the NBA's Coach of the Year, Tom Thibodeau, averaging 24 points, 10 rebounds and 6 assists. Randle helped return the Knicks to the postseason and became something of a New York basketball cult hero for playing such a significant role in the Knicks' revitalization.

Randle arrived to the Knicks on a three-year free-agent deal in 2018 after two seasons with the New Orleans Pelicans and four with the Los Angeles Lakers. Randle was the No. 7 pick out of Kentucky in the 2014 NBA draft.