Wood, who joined from Worcester last summer, has played a key a role in the Saints' march to the Aviva Premiership semi-finals, where they face Leicester on Saturday, and the Heineken Cup final.
The 24-year-old made his international breakthrough this year, starting every game in England's Six Nations title-winning campaign, and he has been nominated for the Premiership player of the year award.
Wood suffered a hairline fracture of his right fibula against Gloucester on April 19 - but he is hopeful a scan later this week will clear him for the climax to Northampton's season.
And beyond that lies the prospect of a place in England's Rugby World Cup squad.
"I've definitely enjoyed my time at the Saints," said Wood.
"It couldn't have gone much better really. Working with the players and coaches has been excellent and hopefully this will continue over the next few years.
"I knew I had a challenge to establish myself as a Saints player, especially with the quality players that we have in the back row, and everything else has been a bonus.
"I certainly had no hesitation in signing a new contract, and have no intention of going anywhere else.
"Hopefully we can finish the job this season and then build on that to bring more success to the club in the next few years."
On Monday, Northampton announced that scrum-half Lee Dickson had signed a new deal.
Director of rugby Jim Mallinder said: "When you look around the Premiership and in Europe it quickly becomes clear that the clubs that are successful over long periods - such as the likes of Leicester, Toulouse, Munster and Leinster - are those whose squads are maintained over successive seasons.
"This is what we are trying to do here at Franklin's Gardens in order to compete at the top end of the Premiership and later stages of the Heineken Cup year in, year out.
"This is why Tom's new contract is such a boost for the club. When he arrived last summer we knew that we were bringing in a good player, and his commitment and dedication on and off the field have helped him realise some of his potential.
"But he is still young and has plenty to learn, and all of the coaches are delighted that he will be developing here at the Saints."
Gilbert has released a new line of rugby cleats. The Gilbert Virtuo 8S is part of the exciting new product. Check it out.
The entire All Blacks apparel line has been updated for 2013/14. Check out the New Zealand All Blacks polo.
The Nike Tiempo is a solid rugby cleat and one of few styles still made from full-grain natural leather.
The Gilbert Blitz 8S rugby cleat is a great cleat at a great price of $69.99. Get a new pair of cleats today.
A cool looking all black rugby cleat with the high performance adidas is known for. Get in the Gear!
Wear the crest of the British and Irish Lions on your t-shirt. A great look for the summer.
The All Blacks Performance t-shirt is black with hints of blue from the training jersey. Very Cool.
The New Zealand All Blacks training jersey for 2013/14. Get in the Gear!
The USA Rugby Pro Alternate rugby jersey is perfect for any fan of the Eagles. Get yours to wear during the summer Test matches.
The NEW All Blacks 2013/14 jersey has arrived at World Rugby Shop. Dare to wear the colors of the All Blacks.