Sportsnet's Elliotte Friedman reports that Duclair's contract carries a $3 million average annual value. The 25-year-old joined the Panthers last season on a one-year deal worth $1.7 million.
"Anthony brought great speed and skill to our club this season," general manager Bill Zito said in a statement. "We look forward to seeing him continue to be a creative playmaker for us on the ice and a valuable member of our community. We are thrilled to have him as a part of the Panthers family for years to come."
In 43 games this season, Duclair had 10 goals and 32 points.