SYDNEY has locked in Luke Parker to a new deal, with the 2021 club champion signing a four-year contract extension.

The Swans' co-captain turned his back on free agency to commit to the club until the end of 2025, when he will turn 33.

Parker was eligible for unrestricted free agency as the five-year deal he signed in 2016 came to an end but has elected to stay at the club he has played 235 games for since arriving as pick No.40 in the 2010 NAB AFL Draft.

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The 28-year-old claimed his third Bob Skilton Medal last week after previously winning the award in 2014 and 2017. He has finished in the top three of the club champion count in each of the past five years.

Parker was also recognised for an outstanding and consistent season when named in this year's Therabody AFL All-Australian 40-man squad after being selected in the final team in 2016.

Sydney's Luke Parker celebrates a goal against Carlton in round 11, 2021. Picture: AFL Photos

He played all 23 matches this season, kicked 15 goals and averaged 28 disposals with team-highs for contested ball (13.4) and clearances (6.3).

The 2012 premiership player almost willed his team over the line in this year's elimination final with 34 disposals as Parker led a midfield missing Josh Kennedy and Callum Mills due to injury.

"I absolutely love the club and I wanted to be part of the long term and really drive the group through this next period," Parker said.

"I'm really excited about what the future looks like. We have a great group and we have taken some big steps forward this year.

"We've got some young guys who are just starting out in their careers and you ride the bumps with them, you ride the exciting times with them, and it's such good fun."

The Swans are managing a tight salary cap but will now turn their attention to finalising a new deal for Jordan Dawson after the 24-year-old's breakout season.

Former No.5 pick Dylan Stephens and veteran forward Sam Reid are just two of more than a dozen Swans also coming out of contract, while George Hewett is a restricted free agent and of interest to Carlton.