The 28-year-old, who joined the club from Barnsley in January 2017, was part of the Villa side that secured promotion via the Championship playoff final at Wembley Stadium in May.
Hourihane has been a great servant to Villa thus far, having made 111 appearances for the West Midlands club, and scoring 21 goals and assisting 16 times in that time.
In conversation with the official club website, he said: "I'm absolutely delighted. It's exciting times for the club with us moving into the Premier League. I've waited all my career for the opportunity to play at this level and the time has now arrived.
"I'm really looking forward to the season ahead. It's a big period for me personally as I've come all the way from League Two to reach the top. I'm glad to sign and look forward to being here for seasons ahead."
Here is what some of the claret and blue faithful made of Hourihane's extension on the social media platform:
Brilliant news another sound DS decision— Richard B (@richbeee) 13 July 2019
Great news, fully deserved and I think the Premier League will be made for Conor too do his stuff.— Gary Glasgow (@GPDecorating) 13 July 2019
You deserve it Conor, well done— Ian c healey (@Ianchealey2) 13 July 2019
Irish Prince— Dani on Villa (@beds_villafan) 13 July 2019
Well deserved for helping fire us to promotion last season with some key goals and assists— MrVilla (@MrAstonVillan) 13 July 2019
Well done Conor. Think people are underestimating how important you could be next season— Aston Villa 1874 (@1874Aston) 13 July 2019
Deserved for that semi final goal alone.— TW Villan (@Villan66332686) 13 July 2019
Most underrated player at the club!! Well deserved— gary walls (@gary_walls) 13 July 2019
Hourihane rose through the ranks at Sunderland's academy and subsequently moved to Ipswich Town in 2010, but did not make a senior appearance for either club.
The Republic of Ireland international had better luck at Plymouth and Barnsley, making over 100 appearances for each, before Villa signed him from the latter for an undisclosed fee in January 2017.
Villa's return to the Premier League will see them take on Tottenham Hotspur away at their new stadium on 10 August.
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