Baines was delighted to have finalised the deal that will keep him at Goodison Park for the majority of his career.
"I'm more than happy to be staying here and committing to the club and it was nice for the club to want me to stay," he told evertonfc.com.
"It was simple - it would have been done quicker if I hadn't been away on holiday.
"I still had two years left so wasn't really thinking about it but the manager said to me at the end of last season that I had done well and he wanted to reward me with a new contract, which was great.
"It is nice to have it sorted before we go away to Australia because I can focus on the football and not have anything going on in the background.
"I'm fully-focused on the trip to Australia and hopefully that will be a good trip leading to a good season."