The emerging midfielder had been heavily linked with Fremantle and West Coast.
He will remain at Richmond until at least the end of the 2016 season.
"It was never in doubt that I would re-sign with Richmond. It was just a matter of sorting through the details with the Club and my manager," Conca told Richmond's website.
"I'm very grateful for the opportunity the club has given me over the last three seasons and I’m excited about what the future holds."
Having locked away Conca, the Tigers will now turn their attention to trying to convince star midfielder Dustin Martin to recommit to the club.
Martin toured Greater Western Sydney's facilities on Thursday after telling the Tigers this week that he was exploring other offers.
Conca, 21, though, was a critical part of the Tigers' engine room in 2013, playing 17 games and averaging 18.4 disposals a game.
However, the No.6 pick in the 2010 NAB AFL Draft tore his hamstring in the Tigers' disappointing 20-point elimination final loss to Carlton.
He is well in to his rehabilitation phase in preparation for next season.
"Reece is very highly regarded within the Richmond Football Club and we’re excited to have him as part of our group for at least the next three years," Richmond coach, Damien Hardwick said.
"Reece took his game to another level in 2013, and, at just 21 years of age, we believe he still has plenty of improvement in him."
Twitter: @AFL_BenGuthrie
