The 17th-placed Kangaroos (2-17) will finish in the bottom three for the fifth straight year, and it remains to be seen how long it will take them to become a finals contender.
Zurhaar was set to become a restricted free agent at season's end, giving him the chance to join a club in the premiership window.
But the 26-year-old wants to be a Roo for life, and is banking on North Melbourne becoming a force in the not-too-distant future.
"I love the club and I'm going to be wearing the blue and white for the rest of my life," Zurhaar said in a statement.
"After the bye, we've shown so much as a footy club and we're definitely going in the right direction."
Cameron Zurhaar fends off Bulldogs star Adam Treloar during a recent clash. (Rob Prezioso/AAP PHOTOS)
Zurhaar said seeing the likes of Nick Larkey, Jy Simpkin, Tristan Xerri and Harry Sheezel all sign long-term deals at the club over the past year helped influence his decision.
"They're all great mates of mine and they can obviously see a big future at North Melbourne and so can I, and I'm just so excited to see where we can go," Zurhaar said.
In a touching moment filmed by the Kangaroos, an emotional Larkey expressed his relief when Zurhaar told him the news of the five-year deal.
"That is huge. That is the best news all year," Larkey said.
"Five more years. They (the player group) are going to go bananas.
"You've got no idea how much that's going to lift everyone. It's like, now we've got the core signed on."
"That is ******* huge!"— North Melbourne FC (@NMFCOfficial) ğ��–ğ��� ğ�� ğ��¨ğ�� ğ��¡ğ��¢ğ��¦.📰: https://t.co/zCqNXIMpEa#Kangas pic.twitter.com/zCeQD70iF5July 29, 2024
North Melbourne head of football talent Brady Rawlings said the club was excited to have another key player recommit to the club long-term.
"We are absolutely rapt to have Cam sign on for another five years," Rawlings said.
"His decision to join Jy Simpkin and Nick Larkey in turning his back on free agency and committing to the club long-term is a great show of confidence in our future."
A rookie draft selection in 2016, Zurhaar has kicked 160 goals across 117 games to become a key part of North's attack.
Their clash with last-placed Richmond on Saturday will go a long way towards deciding this year's wooden spoon.
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