The 19-year-old joined the Red and Blues in 2017 and featured prominently for the club’s U19 team.
At the start of last season, he moved to Serie B side Perugia Calcio on loan and made 25 appearances for the Griffins as they finished eighth on the table.
“Bologna FC 1909 is pleased to announce that the midfielder Michael Kingsley has signed a new contract that will run until 30 June 2024,” read a statement on the club website.
Michael, who was part of Nigeria’s 2015 U17 World Cup-winning squad, will hope to play more prominently for Sinisa Mihajlovic’s men this season.
Bologna take on Hellas Verona in their opening 2019-20 Serie A game on Sunday, August 25.