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."
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