The England international's fresh terms are due to keep him at the Halliwell Jones Stadium until 2019.
The 26-year-old has scored 11 tries in 85 appearances for the Wolves since he arrived at the club from Leigh Centurions in 2012.
"I am delighted to have signed again at Warrington," Hill told the club's official website.
"It was a tough decision for me and my family with the temptation of the NRL but the decision is right for us and I'm fully committed to the Wolves."
Warrington continue their Super League campaign on Friday when they travel to Hull FC.