South Australian Fogarty, 25, was due to enter free agency next season but has instead committed to Adelaide long-term.
He is coming off a career-best 41 goals in 2024 and also surpassed the 100-game mark.
"I love the club and feel we are heading in an exciting direction," Fogarty said in a statement.
"As a forward line we have built some great chemistry and it's been good to learn from some of our senior players, and now have the opportunity to pass some of that knowledge and experience onto others.
"No career is without its challenges and I feel like I've made some real growth in my first 100 games and I'm looking forward to seeing what the next 100 hold.
"I'd love to finish my career a one-club player, the club has put its faith in me and I'm excited to repay them and continue the journey with my teammates."
Fogarty was chosen at pick No.12 in the 2017 AFL draft and has overcome a testing start to his career to become a crucial part of Adelaide's forward set-up.
With Taylor Walker in the twilight of his career and Riley Thilthorpe still young, Fogarty will likely lead Adelaide's attack next year.
His early signature is also crucial for an Adelaide team determined to make finals and relieve pressure on coach Matthew Nicks in his sixth year at the helm.
Darcy Fogarty's contract extension will help coach Matthew Nicks push the Crows' finals aspirations. (Jono Searle/AAP PHOTOS)
"The growth we have seen in Darcy since being drafted, but particularly over the past two seasons, has been significant," list boss Justin Reid said.
"His ability to work up the ground, his contested marking and finishing as one of the more reliable set shots in the competition, make him a very important part of our forward line.
"He embraced the opportunity to step up as part of our leadership group this year and his form was recognised with a top-five placing in our club champion award.
"We are very obviously thrilled that he's committed his long-term future to the club."
Fogarty joins Sydney's Nick Blakey, Brisbane's Hugh McCluggage, GWS's Brent Daniels and Carlton's Jacob Weitering in re-signing until 2031.
Only Port Adelaide skipper Connor Rozee, Western Bulldogs forward Aaron Naughton, St Kilda's Max King, GWS defender Sam Taylor and Richmond's Noah Balta, all signed until 2032, have longer contracts.
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