The midfielder says he wouldn't have signed a new deal if he didn't believe they had an exciting future.
Cahill told evertonfc.com: "I wouldn't have signed for this Club if it wasn't for the chairman and the manager, and that's half the reason why I stayed.
"You look at young players that I watch everyday in training like Ross Barkley, Jose Baxter, Jack Rodwell, and Seamus Coleman who we spent £50,000 on.
"We do see what's going on, and we do share the same passion as you (fans). I've been here seven years and I was lucky to grow up with Ferguson, Stubbsy, Carsley, Kilbane and Naysmith. Every player that has left has always said 'I wish I didn't go as early as I did'."