Schroder tweeted out the news Wednesday night with a picture of him signing the contract, he wrote "GLAD TO BE HERE 4 MORE YEARS" and thanked the fans, organization, and his teammates.
The 23-year-old is entering his fourth season with Atlanta after they drafted him 17th overall in 2013. He is now the third player out of that 2013 class to receive an extension prior to this season, joining Giannis Antetokounmpo and C.J. McCollum.
He is coming off his best season statistically, as he averaged 11 points and four assist last year. The Hawks will open up their season on Thursday night against their division rival, the Washington Wizards.