The Nigeria international has reinvented himself as a wing-back and become a key starter at Chelsea since head coach Antonio Conte's decision to switch to a 3-4-3 formation in late September, contributing three goals and two assists in 25 Premier League appearances.
After signing the new deal, Moses told Chelsea's official website: "I feel very excited. I'm delighted to be here for another few years now and to sign a new deal. Now it's time to concentrate on the team and keep working hard to make sure we win games and try to win the Premier League this season.
"We're having a great season, I'm enjoying my football and we have a good manager here that has given every single one of us confidence. I just want to keep on enjoying it and working hard for the team."
Chelsea technical director Michael Emenalo added: "We are extremely pleased Victor has chosen to extend his contract with us. He is enjoying an excellent season and, under Antonio's leadership, has proved to be an important member of the squad.
"This new contract is testament to Victor's hard work and dedication to succeed at Chelsea and we believe he will be a big part of our future success."
Moses joined Chelsea from Wigan Athletic in the summer of 2012 and enjoyed a promising debut season under Roberto Di Matteo and interim successor Rafa Benitez, making 44 appearances in all competitions and scoring 10 goals.
But having fallen out of favour under Jose Mourinho, Moses spent the next three seasons out on loan at Liverpool, Stoke City and West Ham United before being brought back into the first-team fold by Conte last summer.
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