The new deal will keep the 22-year-old at Blackburn until the summer of 2017.
Lowe said: “I’m over the moon. I love playing here and I have done since I started. To extend my stay again is another step in the right direction.
“I have worked hard to improve all aspects of my game and I feel my performances this season reflect that. I will keep pushing myself to get better and to help get results for the team.
“Gary (Bowyer) has instilled a lot of confidence and belief in me, and you need that to play to your potential. He has given me the freedom to show what I can do and for that I am very grateful.”
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The start of the 2017-18 Premier League season is just around the corner and is shaping up to be one of the most competitive yet.
As always it is the so called “big clubs” that have splashed the most cash in the transfer window so far this summer. Manchester United or City? Arsenal or Tottenham? Who are the winners and losers of the transfer window so far?