Gasol's deal extends through the 2013-14 season, and could be worth more than $60 million depending on future salary caps.
The Spanish power forward has been to two NBA finals since joining the Lakers on Feb. 1, 2008, propelling the franchise back into the league's elite. A dependable No. 2 scoring option alongside Bryant, Gasol averaged 18.9 points and 9.6 rebounds last season while Los Angeles won its 15th NBA title.
Gasol says he believes Bryant intends to finalize his own extension soon, keeping together the Lakers' championship core for several more years.