Hayward's extension is worth $36 million, including $20 million in guaranteed money, his agent, David Mulugheta, told The Associated Press. The deal keeps him with the Chargers through the 2021 season.
The Vanderbilt product was heading into the final year of a three-year, $15.3 million agreement that he signed with the Chargers two years ago, when he joined the organization in free agency after four years with the Green Bay Packers.
Hayward earned invitations to the Pro Bowl the past two years, developing into one of the best cornerbacks in the game and earning a pay raise.
He thanked the Chargers for his new deal and for believing he was more than just a slot cornerback in a tweet Sunday night.
Got to thank the @Chargers and the Spanos family for everything as well. Believing in a guy everybody said was a NICKEL guy and giving him a chance to flourish outside. 3 more years and counting. Let's push for that ring. #Chargers
— Casey Hayward (@show_case29) March 11, 2018
Hayward's 11 interceptions since 2016 tie him with Marcus Peters for the most in the NFL over that time, while his 53 pass breakups lead the league in that period.
Hayward was voted second-team All-Pro last season, when he finished with four interceptions and 26 pass breakups.
The 28-year-old cornerback helped the Chargers finish with 18 interceptions as a team in 2017 (tied for sixth in the NFL) and allow just 197 passing yards per contest (No. 3 in the league).