The popular forward had interest from elsewhere but says he is determined to prove himself at Championship level with a club he loves.
“This is important for my family and I because this is our home,” Gooch said.
“I’ve been here for 10 years as a professional and I’m really pleased that we are all going to be here for another two years.
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"I stayed and signed a new contract previously because I wanted to help the club return to the Championship and deliver that success. Now that we have achieved that, I’m looking forward to proving myself in the second tier once again.”
Sunderland’s fourth season in League One proved a challenging one at times for Gooch, who regularly was forced to play out of position in a defensive role.
However, he remained a regular in the side and made 45 appearances across all competitions.
He also produced a superb run of form as Sunderland finally returned to the Championship, an integral part of the XI who produced a long unbeaten run under Alex Neil that culminated in the Wembley win.
Sunderland duly offered him a new deal and he was able to begin pre-season preparations with the rest of his team-mates on Monday.
Neil has praised the 26-year-old’s versatility and says he will have an important role to play moving forward.
“Lynden played a fundamental part in our success towards the back end of last season, so we are delighted that he has agreed a new contract,” Neil said.
"He has huge amounts to offer – on and off the pitch – and his love for the Club, and what it means to him to play here, really shines through. He is going to be vitally important next season, especially with his versatility, and this is a great signing for us because we want to keep that core of the group together.”
Sunderland are also hoping to agree new deals with Bailey Wright and Patrick Roberts ahead of the new campaign.