JEREMY Cameron has re-signed with Greater Western Sydney on a multi-million dollar deal that will see him remain with the Giants until the end of 2020.

And the Giants are expected to announce shortly that gun midfielder Devon Smith has also signed a new deal.

Locking away Cameron is a massive coup for the Giants, who lost fellow forward hope Tom Boyd to the Western Bulldogs in the off-season.

GWS is in negotiations with several other young stars who will come out of contract at season's end.

The deal, which will be announced officially on Friday morning, is understood to be worth $4 million over five years, given that Cameron was already contracted for 2015.

The club landed Cameron's much sought-after signature to head off what would likely have escalated into a high-priced bidding war with clubs in the 21-year-old's native Victoria.

It is believed that Carlton was the most active Victorian club seeking Cameron's signature, while Adelaide also tabled a big offer.

The brilliant, athletic left-footer has kicked 121 goals in just 51 games.

In 2013 he bagged 62 majors, won the Giants' best and fairest and earned All Australian selection, before enduring an injury-plagued 2014.

The Cameron signing continues a positive week for the Giants, who also extended the contract of co-captain Phil Davis to the end of 2018.

They will now focus on re-signing talented quartet Adam Treloar, Dylan Shiel, Smith and Stephen Coniglio.