Suggs, 31, was Baltimore's first-round pick in 2003 and has spent all 11 of his seasons with the team. He has recorded a franchise-best 94.5 sacks, 25 forced fumbles and 12 fumble recoveries in 165 games (149 starts).
He was named the 2003 NFL Rookie of the Year and the 2011 NFL Defensive Player of the Year on top of being a six-time Pro Bowler and two-time All-Pro.
After missing half of the 2012 season with multiple major injuries, Suggs bounced back with 10 sacks in 16 games last season. He struggled down the stretch, however, recording just one sack in the last eight contests as the Ravens missed the playoffs for the first time since 2007.
That dip in performance led to speculation that the Ravens could cut Suggs loose this offseason because of his $12.4 million cap hit in 2014. That figure should be much more manageable under his new long-term deal.