The deal carries an average value of $6.2 million, making Hines one of the top 10 highest-paid running backs in the NFL -- and earning the most money per year for any non-lead back.
The Colts announced they had signed Hines to an extension Saturday, but did not provide details.
Hines has 170 catches during his first three seasons, sixth most among all running backs during that stretch. He also has an average of 14.9 yards per punt return, which would rank first in NFL history.
Hines becomes the third member of the Colts' 2018 draft class to earn an extension this offseason, joining linebacker Darius Leonard and offensive tackle Braden Smith. That class also includes All-Pro guard Quenton Nelson, who likely would sign a record-setting deal among guards when/if an extension is eventually done.