Burnley boss Scott Parker hailed James Trafford as "a world-class keeper" and praised him for how he has bounced back from a difficult first season at the club.
Trafford, 22, lost his place towards the end of his debut Clarets campaign last term, which ended in their Premier League relegation under Vincent Kompany.
But he has been the best stopper in the Championship this season, and central to Burnley's remarkable defensive record as they have conceded only 14 goals and kept 29 clean sheets in 43 games.
Trafford showed his quality once again in Burnley's 2-1 win at nine-man Watford, producing three outstanding saves, including a stunning fingertip stop seconds before the Clarets equaliser and another one late on to preserve their lead.