Mets general manager Sandy Alderson confirmed the new two-year pact for skipper Terry Collins at a Wednesday morning press conference at Citi Field.
The Daily News was first to report that the Mets would reward Collins with a contract extension and a raise.
Alderson praised the extraordinary job Collins has done not only this season in leading the team to the World Series for the first time in 15 years, but since he was hired.
"We all want to win the World Series but this doesn't take away what we accomplished this year," Collins said.
Collins added: "For me it's pretty exciting to get another opportunity to see this team go to work.