Edwards, 25, was set to become an unrestricted free agent at the end of 2014, but AFL.com.au understands the forward has agreed to terms with Richmond for another two seasons.
Richmond will be relieved to have secured the quick South Australian's signature, having lost fellow speedster Matt White to free agency last year, when they could not compete with a lucrative offer from Port Adelaide.
White has not missed a game for the Power this year and is averaging more than 16 possessions and 1.6 goals a game.
Edwards was taken by the Tigers with pick No. 26 in the 2006 NAB AFL Draft and has played 137 games, including all eight of Richmond's matches this season.
Edwards' best finish in Richmond's best and fairest award came in 2010 when he finished sixth, while he has one other top-10 finish (eighth in 2012).
A host of other prospective 2014 free agents have recently re-signed with their clubs, including Carlton's Michael Jamison and Kade Simpson, Collingwood's Ben Reid and North Melbourne's Lachlan Hansen and Leigh Adams.
Two of this year's big-name free agents, Bryce Gibbs and Todd Goldstein, are also understood to be close to re-signing with Carlton and North respectively.
Richmond now has just two remaining 2014 free agents on its list: former skipper Chris Newman, 32, and forward Jake King, 30.
Neither is likely to leave the Tigers, but both could retire at the end of the season.
Twitter: @AFL_Nick
