Snyder's new deal, which includes an automatic rollover provision, increases his salary to $2.75 million for the 2013 season with annual increases of $100,000.
The deal was expected to be announced later Thursday.
The 73-year-old coach led the Wildcats to an 11-2 record, their second Big 12 championship and a berth in the Fiesta Bowl this past season, and was voted AP's Big 12 coach of the year.
It was Snyder's seventh 11-win seasons in 21 seasons in Manhattan, and the first since returning from a brief retirement four years ago. His career record is 170-85-1.
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