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Longoria, 27, batted .289 with 17 home runs and 55 RBIs in only 74 games because of a partially torn hamstring. He is a three-time All-Star and two-time Gold Glove winner.
Of the deal Rays principal owner Stuart Sternburg said in a statement, "We drafted Evan in 2006 with the belief that he and the organization would grow with each other and together accomplish great things, that is why the Rays and Evan signed a long-term contract in 2008, and it is why we are extending our commitments today. Evan has clearly become a cornerstone player and a fixture in our organization. We are proud of what we have accomplished these past seven years, and I expect the best is yet to come."