The 17-year-old has been linked with the likes of Chelsea and Aston Villa in recent times, but is now committed to the Pilgrims until the summer of 2010.
"I'm delighted to sign the new deal," he told the Western Morning News.
"I heard it was on the cards while I was away in Korea with the England Under-17 side and it's a nice bonus to get it done.
"Ian Holloway has been ideal for me and now I just want to get on and do well on the pitch.
"I heard a few rumour, and it's always nice to see your name going around, but first of all I just want to concentrate on Argyle.
"I'm not sure where my future lies, but I'm committed to Argyle at the moment. The prices that were being mentioned sounded a bit too much."