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The 22-year-old from Turkey has improved dramatically in each of his three campaigns with the Rockets, including career highs in points (21.1 per game), rebounds (9.3), assists (5.0) and steals (1.2) last season.
The agreement came on the same day the Rockets also reportedly came to terms on a contract extension with Rockets guard Jalen Green, keeping two of their key young players on the books as they seek to continue their upward trend in the Western Conference standings.
Taken 16th overall in the 2021 Draft, Şengün is averaging 14.9 points, 7.9 rebounds and 3.8 assists for his career.