The Avalanche signed goaltender Semyon Varlamov to a five-year contract extension through the 2018-19 season, the NHL team announced Thursday.

Varlamov's new contract goes for five years and $29.5 million — with a $5.9 million cap hit.

Varlamov, 25, has posted a 26-9-5 record with a 2.43 goals-against average, .925 save percentage and one shutout in 42 games (39 starts) this season. Varlamov has already tied his career high with 26 wins, equaling his total from his first season with Colorado (2011-12). The native of Samara, Russia, is tied for third among NHL goaltenders in wins, ranks second in saves (1,199), third in shots faced (1,296), sixth in games (42-tied) and eighth in save percentage (.925).

"Undoubtedly, Semyon has been an impact player for us this season," said Avalanche executive VP of hockey operations Joe Sakic in a statement. "At only 25 years old, he is entering the prime years of his career and he wants to be part of this franchise moving forward. We are very excited to have come to terms with him and the fact that he has agreed to a five-year extension demonstrates his commitment to the Avalanche and what we're trying to accomplish."

Varlamov was named to the 2014 Russian Olympic Team and will represent the host nation at the 2014 Olympic Winter Games next month in Sochi, Russia. It will be his second straight appearance at the Olympics, as he was also named to the 2010 team as the third goaltender but did not see action during the tournament. Varlamov has represented his country in eight major international events, backstopping Russia to the gold medal at the 2012 IIHF World Championship and also helping Russia to silver medals at the 2010 IIHF World Championship and the 2006 and 2007 IIHF World Junior Championship.