The 29-year-old, who captains Spurs, has made 151 Premier League appearances since joining the club from Lyon for an initial £7.8m in August 2012.
The France international, whose previous deal was worth £80,000 a week and was due to expire in 2019, said: "Hopefully the best years are ahead."
Spurs striker Harry Kane signed a new contract earlier this month that ties him to the club until 2022.
Lloris signed a four-year deal when he joined Spurs, then managed by Andre Villas-Boas.
Lyon are entitled to 20% of any profit Tottenham make should they sell Lloris.
Tottenham goalkeeper Hugo Lloris has signed a new contract until 2022.