Burakovsky, 25, won a Stanley Cup with the Capitals in 2018, but Washington traded him to the Avalanche in June 2019 because he couldn't seem to fulfill the potential of a first-round draft pick. His best season in Washington was 38 points in 2015-16.
In Colorado, Burakovsky made good on some of that promise. He set career highs with 20 goals and 25 assists in 58 games. He added 17 points in 15 playoff games.
"Signing Andre was a priority for us this offseason. He has been a great addition to our team and was a big part of our success this season," Avalanche vice president/GM Joe Sakic said in a statement. "He's a very skilled player who brings speed and scoring to our lineup, and we're excited to have him under contract for two more years."
Burakovsky accepted a qualifying offer of $3.25 million upon landing in Colorado.