Two-time NBA MVP Giannis Antetokounmpo has signed a five-year supermax contract to stay with the Milwaukee Bucks.

Antetokounmpo, who was entering the final year of his previous deal, confirmed on his Twitter account on Tuesday he was staying in Milwaukee for another five years.

"This is my home, this is my city," he wrote. "I'm blessed to be able to be a part of the Milwaukee Bucks for the next five years.

"Let's make these years count. The show goes on, let's get it."

ESPN reported the new contract was a supermax extension worth $228million, including an opt-out after the fourth year.

Antetokounmpo could have become an unrestricted free agent next year, garnering interest from around the league, but will instead remain with the team that made him a star.

The Greek was the 15th overall pick in the 2013 NBA Draft and has averaged 20.1 points, 8.9 rebounds and 4.3 assists across his career.

The 26-year-old has been particularly outstanding in recent seasons, though.

Antetokounmpo is a four-time All-Star and made the All-NBA Second Team in 2017 and 2018, then the All-NBA First Team in 2019 and 2020.

In the latter two campaigns, Antetokounmpo has been the league MVP, also earning Defensive Player of the Year honours in 2020.

His outstanding form has helped Milwaukee finish as top seeds in the East in the past two campaigns, although they lost in the conference finals to eventual champions the Toronto Raptors in 2019 and the semifinals to the Miami Heat earlier this year.

The Bucks have worked this offseason to boost their roster and convince Antetokounmpo he can achieve team success in Wisconsin.

A blockbuster trade was agreed with the New Orleans Pelicans for Jrue Holiday, although a further move for Bogdan Bogdanovic fell through.

Milwaukee's 2020-21 regular season begins against the Boston Celtics on December 23.