The key forward has turned his back on free agency to recommit to the Blues until at least the end of 2019.
The 27-year-old has enjoyed a consistent season in the navy blue in 2017, booting 34 goals and ranked second in the competition for total contested marks.
Head of Football Andrew McKay said the contract extension was reward for Casboult’s input and dedication this season.
“Levi has made pleasing improvements across his game this season, and has committed himself to continually developing as a key forward,” McKay said.
“He has been leading a very young forward line this year, and provides a strong target for us.
“Levi is a Carlton person and we’re really pleased he has chosen to remain at the Blues for a further two years in what will be an exciting period ahead for the Club.”
The strong-marking forward arrived at Ikon Park via the 2010 AFL Rookie Draft and made his debut in Round 17 against the Western Bulldogs in 2012.
Casboult joins Matthew Kreuzer and Sam Rowe who have recently recommitted to the Blues, alongside Zac Fisher, Sam Petrevski-Seton, Charlie Curnow, Harry McKay, Andrew Phillips, Ed Curnow, Tom Williamson, Ciaran Byrne, Harrison Macreadie and Matthew Wright, who have all re-signed in 2017.