The deal includes a mutual option for one additional year worth up to $20 million and is the longest commitment to a player in Brewers franchise history.
Braun has been elected to start in each of the last three All-Star Games and is one of just five players in history to hit 125 homers and post a .300 batting average over the first four seasons of his career.
"I want to thank the entire Milwaukee Brewers organization, specifically Mark Attanasio and his entire ownership group, Doug Melvin and Gord Ash for making this possible," Braun said. "I have truly enjoyed the time I have spent in Milwaukee and look forward to spending the next 10 years here. I believe in the direction of this organization and its commitment to winning moving forward."
Braun gets a $10 million signing bonus and will make salaries of $19 million in 2016-18, $18 million in 2019, $16 million in 2020. The mutual option is worth up to $20 million with a $4 million buyout.
Braun's newest deal includes a no-trade provision, and he will defer some of his salary.
Braun signed a $45 million, seven-year extension in 2008 after winning the NL Rookie of the Year in 2007, which was the largest contract ever by a player with less than one year of service time.
"One of the cornerstone pledges we made when purchasing the Brewers was to build a perennially competitive team, and Ryan Braun has already shown that he is a very rare and special talent," Brewers owner Mark Attanasio said. "This is an historic occasion for our franchise and for our fans, knowing that we were able to make Ryan's desire to wear a Brewers uniform for the long term a reality."
Braun is hitting .357 with four homers so far this season, and has reached safely in all 18 games. Last year, he earned his third straight Silver Slugger Award with a .304 average, 25 homers and 103 RBIs.
AP Sports Writer Ronald Blum contributed to this report.