Sidney Crosby plans to remain a Pittsburgh Penguin for at least three more years.

The Penguins announced Monday they re-signed the 37-year-old from Cole Harbour, N.S., to a two-year contract extension that has an average annual value of $8.7 million US.

The deal, significantly below the market value for an NHL superstar, extends through the 2026-27 season.

Penguins general manager Kyle Dubas commended Crosby for signing a team-friendly deal in an effort to help the Penguins win "both now and in the future."

Crosby was eligible to sign an extension on July 1 with him entering the final season of a 12-year, $104.4-million deal that carries an $8.7-million salary cap hit.

"There are no words to properly describe what Sidney Crosby means to the game of hockey, the city of Pittsburgh and the Penguins organization," said Dubas. "Sidney is the greatest player of his generation and one of the greatest players in the history of the game. His actions today show why he is one of hockey's greatest winners and leaders."

"Sid is making a tremendous personal sacrifice in an effort to help the Penguins win, both now and in the future, as he has done for his entire career."

According to Spotrac, a sports salary tracking website, the Penguins superstar is tied for the 42nd highest salary in the NHL with Detroit's Dylan Larkin and Montreal's Patrik Laine.

The 37-year-old Crosby has three Stanley Cups with the Penguins and is climbing career records lists. He's 10th on the NHL's all-time points list with 1,596.

Crosby is coming off a 42-goal, 94-point campaign that saw him finish tied for 12th in the league scoring race.

"Sid's work ethic, focus, character, and mastery of his craft are the stuff of legends to those inside of hockey. Yet, what makes Sid most special is that he actually surpasses that legend with his daily commitment to his craft and to helping the Penguins win," Dubas said.

Only Steve Yzerman, a 19-season captain with the Detroit Red Wings, was a longer-tenured captain in NHL history than Crosby, the Penguins' all-time leader in games played (1,272), even-strength goals (416), even-strength points (1,025) and game-winning goals (90).

Crosby trails only Mario Lemieux on the Penguins' career chart in goals (592), assists (1,004) and points (1,596). Lemieux (690-1,033-1,723) is the only NHL No. 1 pick who has recorded more points than Crosby.

A 10-time all-star, Crosby is also a two-time winner of the Hart Trophy, the Art Ross Trophy, the Maurice "Rocket" Richard Trophy and the Conn Smythe Trophy.

The Penguins open training camp Wednesday and begin the regular season Oct. 9 at home against the New York Rangers.