The 18-year-old's stock has risen rapidly since the winning goal against Barcelona on his Champions League debut and Neil Lennon has moved to tie him down until 2016.
Celtic youngster Tony Watt has committed his future to the club by penning a new four-year deal.
The 18-year-old striker made an instant impact at Celtic Park in April when he scored two goals on his league debut after coming on a substitute against Motherwell. Watt's stock has risen even further this season, with five goals in nine league games on top of the winning goal in Celtic's famous 2-1 Champions League victory over Barcelona on Nov. 7.
The Scotland Under-21 international told the club’s official website: "I'm delighted to have signed this new contract. I'm a Celtic fan and this is where I want to play my football. The last couple of weeks have been incredible and to sign the contract just a week after scoring against Barcelona is brilliant.
"I know I've still got a lot of hard work ahead of me in my career but it's great to know that I'll be here as part of this exciting young team the manager's building at Celtic."
Watt signed for the Hoops from Airdrie United last year in a deal worth a reported 80,000 pounds.