King was due to come out of contract at the end of this season, but AFL.com.au understands Richmond has now secured him to the end of 2014.
The 29-year-old has become an integral part of the Tigers' attack in recent seasons since moving from defence.
King has lost none of his trademark aggression and defensive pressure as a forward, and has shown he can also hurt opposition teams on the scoreboard.
The forward joins skipper Trent Cotchin in re-signing this season, but the Tigers still have a host of out-of-contract players including Jack Riewoldt, Dustin Martin, Reece Conca and free agents Daniel Jackson and Chris Newman.
King was taken by Richmond as a 22-year-old in the 2007 Rookie Draft after a stint with its VFL affiliate Coburg.
He began his AFL career as a hard-checking defender and finished 10th in Richmond's best and fairest in his first season, 2007.
His career had appeared at the crossroads after he played just 22 games in 2008-09 and just one of the opening eight rounds in 2010.
It was then Richmond moved King forward and effectively revived his career.
He finished ninth in Richmond's 2010 best and fairest award despite missing seven games, and kicked a career-high 25 goals in 2011.
King is on track to better that tally this season, having kicked 16 goals in 10 games.
In 97 games, King has kicked 72 goals.
Nick Bowen is a reporter with AFL.com.au. Follow him on Twitter: @AFL_Nick
