Leclerc joined the Scuderia outfit for the 2019 campaign, having spent his 2018 rookie season at Sauber. Leclerc has part of the Ferrari Drivers' Academy since 2016.
During his first year at the Scuderia outfit, the Monegasque driver picked up seven pole positions, two race wins and ten podium finishes.
“I am very happy to be staying on with Scuderia Ferrari," Leclerc said. "This past season, driving for the most illustrious team in Formula 1 has been a dream year for me.
"I cannot wait to enjoy an even deeper relationship with the team after what has been an intense and exciting 2019. I’m keen to see what the future holds and I can’t wait to get going again next season.”
Ferrari endured a difficult 2019 campaign, as it was unable to challenge Mercedes consistently throughout the year.
However, following the end of the summer break, it recaptured some form and took three straight victories -including its home race in Italy, where Leclerc came out on top.
Team principal Mattia Binotto added: “With each passing race this year, our wish to extend our contract with Charles became ever more self-evident and the decision means he will now be with us for the next five seasons.
"It demonstrates that Charles and the Scuderia have a firm future together. Charles has been part of our family since 2016 and we are more than proud of the results we are achieving with our Academy.
"We are therefore very pleased to be able to announce that he will be with us for many years to come and I’m sure that together, we will write many new pages in the history of the Prancing Horse.”
Bahrain International Circuit - Winter testing