Briles in November agreed to a new 10-year contract through 2023, though the 58-year-old coach had already been signed for multiple seasons past this year. He is 44-32 at Baylor, and this season was the unanimous pick as AP All-Big 12 coach of the year.
The private school doesn't reveal financial terms, but the new deal was reportedly worth more than $4 million a season.
When Briles arrived at Baylor six years ago, the Bears had just finished their 12th consecutive losing season under four coaches since the inception of the Big 12.
Baylor is 29-10 over the past three seasons, a stretch that began in 2011 with Robert Griffin III winning the Heisman Trophy before being the No. 2 overall pick by the NFL's Washington Redskins. The Bears have been to four consecutive bowls for the first time in school history.
Briles went to Baylor from Houston, where he was 34-28 in five seasons (2003-07). The Cougars were 0-11 two seasons before he arrived, but Briles led them the 2006 Conference USA championship and four bowl games.