Earnie's agent Mel Eves said
"Earnie's delighted with the new contract and so am I. It certainly brings him a lot nearer to the highest paid players at the football club. If Earnie can get round 20 goals per season, he'll have a smile on his face. Cardiff believe in giving their players incentives to do well and I agree with their thinking."
Earnie managed 15 goals in an injury hit season last time, he also end the season with a debut goal for Wales as the Germans were slain at the Millennium Stadium. He's scored 42 goals in 64 starts for City an awesome strike rate.
21 year old Earnshaw is still being tracked by Premiership clubs but Eves believes it will take a very big offer to temp Cardiff into selling
"Birmingham's interest is well known in football circles, but I doubt whether Cardiff would consider a bid for Earnie below £3m. And if he gets goals in Division Two next season, you could see that value rise to over £5m."
Earnshaw joins Rhys Weston and Daniel Gabbidon in extending their deals at Ninian Park. Neil Alexander is also expected to renew his deal.