Lingard, who will earn up to 100,000 pounds ($124,650) a week according to British media reports, has an option to extend the deal by a further year.
"Manchester United has always been a big part of my life," Lingard said in a club statement.
"I have been with the club since the age of seven and I feel great pride every time I pull the shirt on."
The 24-year-old broke into the United first team under previous manager Louis van Gaal and has gone on to make 70 appearances for the club, scoring 11 goals.
Three of those have come at Wembley, with the winger netting the winner in last season's FA Cup final. He also scored against Leicester in the Community Shield and against Southampton as United won the League Cup in February.
"He has good intelligence which, when combined with his energy and ability, makes for a player with a great future ahead of him," United manager Jose Mourinho said.
($1 = 0.8022 pounds)
(Reporting by Toby Davis, editing by Neil Robinson)