STEWART SIGNS UP UNTIL 2005
Town boss George Burley said that he was both "thrilled and delighted" to have the striker commit himself to the club on such a long-term deal.
"Marcus has shown himself to be outstanding in the Premiership this season, not just with his goals but also his general play," said the Scot.
"He has shown that he can compete with the best at the highest level and I've been delighted with him."
Meanwhile, Burley could be set to take a plunge in the transfer market by attempting to sign Dundee phenomenon Gavin Rae.
The Ipswich manager will face a stiff task in prising the midfielder away from Dens Park after Ivano Bonetti issued a stern hands-off warning to interested clubs.
Town will be hoping that Burley can make it fourth-time lucky after having previously failed to land Claus Jensen, Hassan Kachloul and Gert Verheyen.