The goalkeeper has been a stalwart for the Championship side over the last couple of seasons.
Sheffield Wednesday's Keiren Westwood
The Republic of Ireland international has been exceptional since moving to Hillsborough around two years ago, so it is hardly surprising that the club have looked to tie him down for longer.
And Carvalhal has outlined just how delighted he was to see the 31-year-old put pen to paper on the extension.
"I'm happy because Keiren is a good pro. He is a good goalkeeper and we are happy that Keiren will be with us more time. He has done fantastic for us," he told the Star.
"We are trying to keep the players who deserve to stay and are working hard all the time."
Sheffield Wednesday manager Carlos Carvalhal
Westwood has arguably been one of the most reliable goalkeepers in the Championship since his move to Wednesday, so perhaps the biggest surprise is that the club did not face a tougher fight to keep him away from Premier League clubs.
With several of their key men agreeing new deals over the past few months, it is clear that the club are heading in the right direction, especially with an owner at the helm who has not been afraid to bring high-profile names to the team to complement the core group they already have.
And with the Championship promotion race often being decided by fine margins - as Wednesday cruelly know all too well after last season - it seems that the unity within the squad could be a key factor in the side going one step further this year.