January 1, 2012; New Orleans, LA, USA; Carolina Panthers wide receiver Steve Smith (89) celebrates a touchdown catch against the New Orleans Saints at the Mercedes-Benz Superdome. Mandatory Credit: Chuck Cook-US PRESSWIRE

He was in the final year of his current contract, and this binds Stevie to the Panthers until 2015, with an option for 2016.

Financial terms have not been disclosed, but Stevie is expected to sign the extension sometime later today.

The new contract will most likely make Stevie the highest paid Panther, through incentives and bonuses, making him jump ahead of Charles Johnson in terms of salary.

Last season, Smith had 79 catches, 1394 yards and 7 TD’s in his first season with rookie standout QB Cam Newton.

He is the franchise’s all-time leader in receptions (699), receiving yards (10,278) and touchdown receptions (59).

All this comes after he wish to be traded in 2010 after the Panthers went 2-14 with an array of QB’s under center.