The 29-year-old two-time Pro Bowl pick made the announcement in a statement on Twitter, thanking fans for their support over the last seven seasons.
The new deal adds five years, giving Luck another chance to cash in with a big contract around age 32.
An Indianapolis team is using a blunt marketing strategy to win over St. Louis Rams fans.
Rumors of Indianapolis coach's firing were dashed when Colts owner announced a new four year contract on Monday.
Criminal homicides in Indy set a grim record for 2015. Mayor Hogsett and Police Chief Riggs announce plan to turn page on crime.
An Al Jazeera report alleges former Colts quarterback Peyton Manning took HGH during his neck injury recovery in 2011.
The Indianapolis Colts are being sued in federal court in Houston over the use of the phrase "the 12th Man."
Lawmakers and national experts will meet Monday afternoon to debate whether Indiana is truly seeing a shortage in teachers.
Colts owner Jim Irsay will appear in court on August 28 for two counts of impaired driving on August.
Jim Irsay is charged with two misdemeanor counts of impaired driving in connection with his March arrest.