The Kangaroos also announced on Thursday that star midfielder Daniel Wells had re-committed to the club to the end of 2016 despite being set to become a free agent at the end of this season.
The 36-year-old Scott was contracted until the end of this season, but the Roos moved early to tie up the man who led them to the finals last season for the first time since 2008.
North Melbourne CEO Carl Dilena told NMFC.com.au the club had great faith in the on-field direction Scott was taking the Roos.
"We, as a club, see Brad as the best young coach in football and a coach who has embraced the culture at North Melbourne," Dilena said.
"His commitment to be part of the future of the club is exciting, and we are confident he is the man to take North Melbourne to its fifth premiership."
Wells, 28, has played 190 games since North took him with the No.2 pick in the 2002 national draft, sharing the Roos' 2011 best and fairest with Andrew Swallow.
Wells said on Thursday he wanted to retire a one-club player.
"I said a little while back that I wanted to be a Kangaroo for my entire career and this means I'm another step closer to that," Wells told NMFC.com.au.
"I've spent my entire footy life at North and couldn't be happier with where we are headed."
North's return to finals action last year was extremely disappointing, with the Roos capitulating to West Coast by 96 points in an elimination final at Patersons Stadium.
But Scott got North playing a fast-moving, heavy-scoring style of football last season, the Roos winning nine of 10 games between rounds 12-21.
In that time, North also overcame its previous poor record against top-four teams under Scott, comfortably beating eventual preliminary finalists Adelaide and Collingwood.
Since taking over from Dean Laidley at the end of 2009, Scott has overseen an overhaul of North's list that has seen the Roos invest heavily in youth at the draft.
He has also been prepared to throw players like Jack Ziebell, Ryan Bastinac and Ben Cunnington into key midfield roles early in their careers while blooding other youngsters like Sam Wright, Shaun Atley and Kieran Harper.
Scott said on Thursday North had not taken any short cuts in its post-2009 rebuild and would continue to develop its playing list patiently.
"The planning that has been put in place we've been very patient. We believe that to build sustained success you have got to be patient and you've got to be systematic in the way you approach things," he said.
"We haven't taken any short cuts at any point and we've never deviated from our strategy.
"The board have been kept absolutely across the football department strategy and they would also back up the fact that we will stay to our football strategy.
"Our process is ongoing and I'm looking forward to the future, no doubt.
"But I'm not prepared to say when I think we're going to achieve the ultimate success."
Midway through last season, Scott said he was confident the Roos' post-2009 rebuild was on track.
"We've just got to stay the course and stick on the path that we set two-and-a-half years ago," Scott said before North's round 13 win against Adelaide last season.
"We're on that path and we're really confident. Our younger players we firmly believe are on the right track, but to match it with the elite sides of the competition … we definitely have to be more consistent in our performance.
"No doubt, we're like any emerging side, we're looking for our young players to take the next step and that's an evolving process."
Scott has led the Roos in 67 games since the opening round of 2010 for 35 wins and 32 losses, a 52 per cent winning rate.
Under Scott, North finished ninth in 2010 (11-11) and 2011 (10-12) before an eighth-place finish last season (14-9).
Nick Bowen covers North Melbourne news for AFL.com.au. Follow him on Twitter: @AFL_Nick
