Texas Tech spokesman Blayne Beal announced on Twitter Friday evening that Kliff Kingsbury has agreed to a contract extension through 2020.
The Red Raiders went 8-5 last season, starting off 7-0 before a five-game losing streak to end the regular season. The team then won its bowl game against Arizona State 37-23.
Kingsbury was due to make $1.95 million this season. Financial terms of his new deal weren't announced.
The contract that Kingsbury signed in February 2013 included a hefty buyout. For Tech to fire Kingsbury without cause, he would have been due $7.3 million currently.
The news comes after Texas Tech announced earlier Friday the Campaign of Fearless Champions, a fundraising campaign that involved 25 athletic building projects. Among those projects is a new football indoor practice facility and renovations to Jones Stadium.
The Red Raiders start their season Saturday at home at 6 p.m. against Central Arkansas.