The striker moved to Manchester last July from the Argentinian Club River Plate and settled quickly with 10 goals already for City.
Then in December he played a starring role as Argentina triumphed at the World Cup, ending a 36-year wait for success.
After signing the new deal which keeps him at the Etihad Stadium until 2028, the 23-year-old said it was another proud moment.
“Me and my family are proud after arriving at the Club, how everyone has taken care of us, and now to have the chance to extend my contract is something very important to me,” Alvarez said.
“There’s been so much in a short time. I’ve always been trying to adapt and be ready to experience all kinds of situations in life.
“I’ve been through wonderful things and lots of emotions. I’ve learned, and I’ve grown as a person and also as a football player, which is one of the most important things.”
Alvarez is the latest in a long line of Argentinians to establish themselves at City, following in the footsteps of legends such as Sergio Aguero and Pablo Zabaleta.
And the World Cup winner shares the same desire to succeed on the pitch and has worked extremely hard to get to grips with the English game.
“There are lots of different things, but there are some similarities too, which makes things a bit easier,” he added.
“The rhythm of the game, the transitions, and some tactics are different, but in the end, it’s football.
“It is what I’ve been doing all my life, since I was a kid, as long as I can remember, if there’s a ball around, I will be happy and enjoy.
“When it comes to the adaptation, it was easy because I moved from one of the greatest clubs in [South] America to one of the greatest clubs in Europe, which have a lot in common. That made things easier.”
With City still alive in the Premier League title race as well as in the quarter-finals of both the FA Cup and Champions League, Alvarez is determined to play his part in our chase for trophies.
“My goals for the remainder of the season are being there, helping the team when I have my chance, giving everything that I have to keep growing as a person and as a player, and outside the pitch too,” he said.
