— Cincinnati Bengals (@Bengals) March 27, 2014
Peko, 29, was entering the final year of his current deal would have made $4.125 million for the 2014 season.
He has spent all eight of his season with the Bengals and will now be under team control through the 2016 season.
Last year, he appeared in all 16 games for the Bengals and totaled 52 tackles and three sacks. Peko was rated as the No. 66 defensive tackle in the league out of 69 qualifying players, according to Pro Football Focus.