The full-back was one of the standout performers for Sean Dyche's men, will return to the top flight following a four-year absence after clinching second spot in the Championship last season.
Trippier made 41 league appearances during that successful promotion campaign, and is now committed to the Lancashire club until at least 2017.
His consistent performances reportedly alerted the attention of several top-flight sides, including FA Cup winners Arsenal, Newcastle United and Southampton.
The 23-year-old came through the youth ranks at Premier League champions Manchester City, before enjoying two loan spells at Barnsley.
Burnley originally signed the former England Under-21 international on a temporary basis in July 2011, before making the move permanent in January 2012.
It marks further good news for the Turf Moor outfit, after fellow defender Daniel Lafferty also extended his stay by three years on Wednesday.
