Stevens joined the Whites from Forest Green Rovers in February 2018 with the midfielder then becoming a regular for Carlos Corberan’s title winning Under-23 side last term.
The winger was then handed a first team debut against Stoke City back in January and the 19-year-old has frequently been a part of the first-team's matchday squad in head coach Marcelo Bielsa's second season in charge.
Stevens again made the bench for Saturday's Championship clash at home to Middlesbrough with the winger now thrilled to sign a new two-and-a-half-year deal.
“I’m delighted to sign a new deal at the club and I’m excited for where the next few years can take me here," said Stevens.
“Last year with the Under-23s was great, we were a really close group and to win the league was a massive achievement.
“It was great to make my debut against Stoke, I was nervous warming up when you see how many fans are there supporting us, but you have to stay focused on the game and that’s what I tried to do.
“Being around the match day squad is improving me as a player and I’m learning from the senior pros, hopefully I can kick on now and see what the future brings.”
Stevens saw his progress at Leeds disrupted back in September when the teenager was handed a ban from all football-related activities and given a £1,200 fine after breaching the FA's betting rules.
The 19-year-old placed 59 bets which amounted to £510.12, including five Whites games - though the winger wasn't involved in any of those fixtures.
Leeds revealed the former Forest Green Rovers youngster had suffered from anxiety and homesickness since joining the club.
United's head of medicine Rob Price also said that Stevens had "struggled to integrate himself" at the club, but the FA remained staunch with their punishment believing he had shown a "wilful disregard for the rules".
The Whites were vocal in their concerns over the ban, which resulted in Stevens being unable to train or interact with any of his teammates or United's coaching staff.
But Stevens was able to return to training with Leeds on October 10 and after making the bench for Saturday's clash against Boro, a fine week for the teen has seen him sign his new deal.