The Geordie lad has been pivotal to Newcastle's ascension from relegation battlers to mid-table team since joining from Brighton in January.
"I knew it was a risk leaving Brighton," Burn said.
"If we'd gone down I might never have played Premier League football again but I fell in love with this club as a kid and I was never going to turn it down. I let my heart rule my head. I was desperate to come here and now everyone's buzzing about what the future might bring.
"The atmosphere and positivity feels like the old Champions League days. I certainly hope we can finish in the top 10 this season."