The 20-year-old has inked a deal that will see him remain on the Gold Coast until at least the end of 2016.
Prestia has played 40 games for the Suns and joins a growing list of players to re-sign this year, including Trent McKenzie, Charlie Dixon, Zac Smith and Rory Thompson.
From the Calder Cannons and Assumption College in Victoria, Prestia was taken by the Suns with selection number nine in the 2010 draft.
The workaholic midfielder has been in cracking form in 2013, culminating in a 29 disposal, 12 tackle performance against Geelong on Saturday night.
Speculation about a possible move to Victoria at the end of the season had swirled, and Suns list manager Scott Clayton says Prestia's signature is a significant announcement.
"Dion’s commitment demonstrates the confidence our players have in the direction of our football club and is an example of the belief they have that we are building something special on the Gold Coast,” Clayton said.
Prestia echoed Clayton’s thoughts.
"I’m rapt to have re-signed. Having been at the club since the start and knowing what we’ve been building, I really wanted to stick with the club," Prestia said.
"Like many of my teammates, we believe we are on the verge of future success and I’m looking forward to putting in the hard work over the coming years to ensure we achieve that."
Michael Whiting covers Gold Coast news for AFL.com.au. Follow him on Twitter: @AFL_mikewhiting