The 23-year-old was not due to come out of contract until the end of next season but has reaffirmed his commitment to the Swans after 89 games with the club.
The new deal ties Sydney academy graduate Blakey to the Swans until the end of 2031.Â
"I grew up supporting this club, so to be here for a while longer is very nice and I'm very excited for the future," Blakey said.
"I can't see myself playing football anywhere else, so to be here for another eight years, with next year as well, is exciting.
"I'm very humbled that the club is signing me on for that long."
Blakey is the son of Fitzroy and North Melbourne champion John Blakey, who was an assistant coach with Sydney until 2020.
The dashing defender feels at home under long-time Swans senior coach John Longmire.
"Our team is all so close," Blakey said.
"We're really good mates and we're building something special, so hopefully this group sticks together and we can do some exciting things in the future."
Sydney football manager Charlie Gardiner was thrilled to secure Blakey on a long-term deal.
"Nick is a great young man and a very important part of our young group, so we are delighted that he has chosen to extend his career with the Swans long-term," Gardiner said.
"He has some unique talents on field and has worked incredibly hard to overcome injuries over the past couple of years to turn himself into a high-quality defender and provide enormous flexibility to the team."
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