The 22-year-old has been linked with a move to Everton in recent months.
“I was pleased by the way I played towards the end of last season but at the same time I don’t think that level of form will be good enough to get me into the side this time around,” he told the club’s official website.
“Unless you are continuously improving you shouldn’t expect to be in the team. I want to improve on last season and I am raring to go.”
“This is a great place for any young player to be,” he added.
“Hopefully it will be the start of another good five years for me and for the club. This is a season that we will be looking right towards the top of the table.
“Who knows how far the club can go? If you look back five years who would have expected the club to be in the position it is in now? We feel anything is possible.
“There is a brilliant mix here in terms of the squad. There are a lot of big signings that have been made but there are also plenty of lads who have come through the academy and I think that is an important thing.
“We all have a lot more experience now and I think we are the type of players teams need to be successful. If you look at the recent history of the clubs that have won trophies they have all had a home-grown element.”
