Lynn will make $18.5 million each of the next two season. The deal includes an $18 million club option for 2024 with a $1 million buyout.
Lynn, who pitched the second inning of Tuesday’s American League win, is 9-3 with a 1.99 ERA — which would be a career best — over 16 starts for the White Sox this season.
The 34-year-old was set to be a free agent in the offseason after joining the White Sox in a trade from the Texas Rangers in December.
“We are thrilled to be able to keep Lance in a White Sox uniform for the next several seasons,” White Sox general manager Rick Hahn said in a statement. “He very quickly proved himself to be not only an All-Star caliber addition to the front of our rotation but also the positive clubhouse presence that we envisioned at the time of the acquisition. We look forward to Lance continuing to be a big part of what we’re hoping to accomplish not just in 2021 but now beyond.”
His season got off to a strong start with an 18⅔-inning streak without allowing an earned run, which was the longest by a White Sox starter since 1976, when Wilbur Wood had a 21-inning streak to start the season, according to the Elias Sports Bureau.
Lynn also was an All-Star in 2012 with the St. Louis Cardinals.