The new deal will see Genia remain in Australia with the Queensland Reds and the Wallabies until at least the end of 2015.
Genia said he was pleased the deal was done and looked forward to the next three years.
"I'm certainly happy that everything is now locked away and I very happy with where it has all landed," Genia said.
"This is definitely where I want to be, playing for Queensland and Australia.
"My focus now is on getting the knee right, getting fit and getting back out on the field for the Reds and the Wallabies.
"Next year is a big year, there are big things happening in Queensland and of course it will be a huge year for the Wallabies.
"The B&I Lions Tour is a once in a career opportunity and it is certainly one of the reasons behind wanting to stay in Australia."
Genia made his Test debut as a replacement against the All Blacks in 2009 during the opening Test of the Tri-Nations tournament at Eden Park.
Since making his debut, Genia has earned 40 Test caps, playing in 11-Tests during his maiden season, a further 11-Tests in 2010 and 12-Tests in 2011.
Genia added a further six Tests to his career tally this year before succumbing to injury during the Wallabies Rugby Championship victory over the Springboks in Perth.
One of two Australian nominees for last year's International Rugby Board Player of the Year award, alongside David Pocock, Genia became Australia's 78th Test captain when he led the side against the United States of America at the 2011 Rugby World Cup.
It was an honour that saw the 23-year-old become the 13th player to captain Australia in a World Cup match, and the seventh Queenslander among the 13.
The captaincy role was again assumed by Genia this year after Pocock, who was standing in for injured skipper James Horwill, suffered a knee injury during the opening Test of the inaugural Rugby Championship against the All Blacks in Sydney.
His ascension to the role of captain has followed a rapid transition from rising star to genuine leader in Australian Rugby.
Born in Papua New Guinea but schooled at Brisbane Boy's College, the 24 year old is one of three halfbacks in the family, with older brother Frankie having played Test matches for the PNG Pukpuks, while younger brother Nigel is a former Queensland Schools representative.
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