The Colombian striker, who is set to lead Udinese's attack at Chievo on Saturday, voiced his delight after signing a new deal that will keep him at the Friuli outfit until June 2018.
"I am extremely happy to have signed this contract and I thank the club and the fans," Muriel told www.udinese.it.
"I believe I can become a great player at Udinese by working hard and doing a good job."
Muriel scored 11 goals in 22 Serie A games last season and has already found the net twice this term.
The 22-year-old has one thing on his mind and that is to help Udinese succeed.
"Our first aim is to get to the 40-point mark, which will guarantee us Serie A football next season," Muriel said. "Only then, will we think of achieving bigger aims."
Udinese have endured a slow start to the campaign having won just one of their opening three games.
The Friuli side was held to a 1-1 draw at home to Bologna last time out to remain 10th in the standings.
Udinese coach Francesco Guidolin welcomes back defenders Thomas Heurtaux and Dusan Basta, who have both recovered from their respective injuries.
Rivals Chievo have taken one point of a possible nine so far. Last weekend's 3-0 defeat at Lazio was their second straight loss.
The Flying Donkeys are eager to turn their fortunes around, starting on Saturday in Verona.
"The calendar has been difficult for us having faced the likes of Napoli and Lazio," Chievo coach Giuseppe Sannino said. "But the season is long.
"Our only aim is to survive in Serie A and there is a path that we can go down to make sure we do that.
"Despite the 3-0 loss to Lazio, I am convinced that we can have a good season."