The 27-year-old only signed a four-year deal with the Cherries last July, but his fresh deal will work out to £26million over five years.
Wilson scored 15 goals in all competitions during the 2018/19 campaign and has also been linked with both Chelsea and Tottenham, as well as Everton.
His excellent form saw him called up to the England squad, where he scored on his debut against the US, while he was also part of Gareth Southgate’s side for the UEFA Nations League finals this summer.