The 19-year-old broke into Everton's first-team this season and made an immediate impression during a difficult time for the club, going on to make 12 appearances so far under David Unsworth and Sam Allardyce.
Baningime, who joined Everton's Academy at the age of eight after moving to the United Kingdom from the Democratic Republic of Congo, agreed new terms today which improve the deal he signed last October which extended his stay at the time to 2019.
“I'm really happy to sign a new contract and so proud because it represents what I've always wanted, which is to be around the first team and fighting for my place,” Baningime told evertonfc.com.
“This Club means a lot to me because I've been here from a young age. It's where I want to be and I'm so thankful to everyone at the Club who has helped me get to this point.
“Hopefully this season is the first of many years of me being involved in the Everton first team.