The United States national team forward’s new deal will take him through the 2022 MLS season and see him remain as a designated player.
“This is my family, this club and this city,” Altidore said in a statement. “The fans, from the first day, they accepted me, they gave me the right to show what I’m all about, and they took me in.
“We’ve built something great together and I’m really eager to see what’s to come.”
Toronto FC had risen to glory in recent years behind the trifecta of designated players – Altidore, Sebastian Giovinco and Michael Bradley.
However, after a trip to the MLS Cup final in 2016, an MLS Cup win in 2017 and losing the Concacaf Champions League on penalties in 2018, questions emerged about the future of the three players.
Giovinco departed prior to the season Al-Hilal, and made comments critical of the club’s treatment after the move.
Altidore had made comments in January about being interested in a potential move to Mexico once his time at Toronto ended, fueling talk he could be on his way out as well.
But instead he has put pen to paper on a new contract that will keep the 29-year-old with the MLS side for the next four seasons.
Altidore originally arrived with Toronto back in 2015, as part of a swap deal with Sunderland that saw Jermain Defoe had in the other direction.
Following his struggles in England, Altidore fared well back in North America and became a key piece in attack alongside Giovinco in a Toronto FC team that became one of the best in MLS history.
In 2017, TFC set a new points record with 69, en route to a victory in MLS Cup over the Seattle Sounders, who had defeated them in the final the year prior.
Altidore scored 15 goals and added six assists in 2017 – his most productive in MLS. The USMNT striker also scored the game-winning goal in the MLS Cup.
Across all competitions, Altidore has scored 60 goals in 114 games with Toronto. In addition to the 2017 Supporters Shield and MLS Cup, the forward has won a pair of Canadian Championships with the club.
Toronto will begin its 2019 MLS season on Saturday against the Philadelphia Union, attempting to bounceback from a disappointing 5-1 aggregate defeat in the Concacaf Champions League to Panamanian side Independiente.
Altidore missed the tie as he recovers from a knee injury.