The news follows the announcement earlier today that Scottish Power has agreed a three-year, six-figure sponsorship deal with the club, which will see their logo displayed on the back of the home and alternate playing shirts.
Finn Russell came through the BT Sport Scottish Rugby Academy system and was heavily involved in Glasgow Warriors' GUINNESS PRO12 title success last season.
The fly-half started for Scotland in the narrow 35-34 loss to Australia in the Rugby World Cup quarter-final earlier this month.
The 23-year-old has made 32 appearances for the Warriors, after making his first start against the Dragons in November 2013 as a BT Sport Scottish Rugby Academy Stage 3 player.
Russell signed his first professional contract with the club in December 2013, after being part of the John Macphail Scholarship, in which he spent 15 weeks in New Zealand's South Island, playing for Lincoln University.
He scored three tries in the final three games of last season, including a crucial touchdown in the win over Munster in the GUINNESS PRO12 Final.
Russell has represented his country on 15 occasions, after earning his first call-up to the Scotland squad during last year's summer tour to North America.
He scored his first professional try at BT Murrayfield against champions Ireland in the RBS 6 Nations earlier this year and also scored a crucial try in the win over Japan in this year's Rugby World Cup.
Speaking exclusively to glasgowwarriors.org, Finn Russell said: "I've really enjoyed the last couple of years and I'm very happy to have signed a new long-term contract with the Warriors.
"You can see the club is going places and winning the GUINNESS PRO12 title last season was another big milestone.
"We have a really competitive squad and I'm continually learning from the coaches and the players around me.
"It was an easy decision to stay and I'm looking forward to the next three years in Glasgow."
Glasgow Warriors head coach Gregor Townsend said: "It's great news that Finn (Russell) has committed his future to the club.
"He has not only broken into the Glasgow Warriors team, but he is also now playing regularly for Scotland.
"Finn has been heavily involved in our biggest games over the last couple of seasons and there's a lot more to come from him in the future.
"Everyone associated with the club will be thrilled that Finn is staying at Scotstoun for the next few years."
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