Susaeta has agreed to extend his contract, which was due to expire at the end of June 2013, until the end of June 2017, while Susaeta's buyout clause has been raised to 35 million Euros, Xinhua reports.
The announcement is good news for the club and should provide a morale boost after Spain international Javi Martinez joined Bayern Munich at the end of August after the German giants paid his 40 million euros buyout clause.
It also looks increasingly likely that striker Fernando Llorente will abandon the club at the end of the season after refusing offers of a new contract.
Susaeta made his first team debut for Athletic five seasons ago under the guidance of Joaquin Caparros and the product of the club's youth system has made over 200 first team appearances.
Last season saw him enjoy his best ever season, appearing in all 38 of Athletic's BBVA Primera Liga matches, as well as making nine appearances in the Copa del Rey and a further 16 in the Europa League in a campaign in which his club reached the final of both the domestic and European competitions.
Susaeta scored Athletic's goal in their 2-0 win at home to Valladolid eight days ago, highlighting how he has been able to score with greater ease in recent months. Last season he was the club's second highest scorer after Llorente with a total of 12 goals in all competitions.
Athletic will now turn their attentions to assuring the future of central defender Fernando Amorebieta, another player whose contract expires in 2013.
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