The England goalkeeper has signed a new deal to 2029.
"I'm over the moon and it gives me the opportunity to build a legacy for myself here, move forward and build this club to where we want to be," Pickford said.
"Everton is a really special club to me. Coming from Sunderland as a young lad and growing into a man here, it's been a special time for me and my family.
"I think the dark days are behind us and it's about building that momentum as a team and the club now."
Pickford's new deal follows teammates James Tarkowski and Jarrad Branthwaite penning new contracts.
"The new owners have come in and have shown they want to move us forward, the manager since he has come in has shown that, too, and us as players on the pitch," Pickford added.
"We've started well and we want to keep building that momentum and get Everton back to a team that competes in Europe.
"We want to have that direction and, hopefully, one day we'll lift some silverware as well."