30-year-old Taylor has played 66 Tests for the All Blacks since making his debut in 2015 and was part of the Rugby World Cup 2015-winning squad.
“I’m hugely grateful for another opportunity to play in New Zealand, especially given the current Covid situation around the world,” Taylor said.
“My wife Lucy and I have a young family, and putting my family first was a big part of my decision. We love it here in Christchurch and we’re settled and happy.
“There’s also a lot I want to achieve with the Crusaders and hopefully the All Blacks over the next few years, and I’m really looking forward to playing at home for my teams and in front of our fans.”
Taylor follows in the footsteps of senior players Ardie Savea, Sam Cane and Joe Moody who all recently announced NZR contract extensions beyond 2023, joining Patrick Tuipulotu, Ofa Tuungafasi and Samisoni Taukei’aho.
All Blacks Head Coach Ian Foster said: “We’re really pleased that we have yet another experienced All Black recommitting his future to New Zealand Rugby. We’re delighted for Codie and his family, and really looking forward to seeing how his game goes next year and beyond.”
Taylor has played 103 matches for the Crusaders since making his debut in 2013.
Crusaders Head Coach Scott Robertson said: “Codie is a genuine leader in our group, who makes players around him better through the example he sets on and off the field. He’s immensely talented and also one of the hardest workers, driving standards and constantly demanding more of himself. We’re fortunate to have a player of his calibre recommit to the Crusaders long term.”
CRFU CEO Tony Smail added: “Codie’s a fantastic man and a passionate club man too, which is really important here in Canterbury. Codie is often down at Sydenham giving back, and to other parts of the region too. We’re grateful to have Codie and his family continue as part of the Canterbury Rugby whānau.”