The Super Bowl MVP signed the new contract yesterday, making him the highest paid player in the NFL.
The 28-year-old quarterback told reporters: "It was pretty uneventful, to tell you the truth. It's not really a big deal.
"Our goal is to win the Super Bowl. That's always been one of my goals. It's never necessarily been a goal of mine to get paid like this. It's just what comes with the job.
"It means a lot. It was never necessarily about the money. But it's definitely about earning that respect."
Flacco was drafted by the Ravens in 2008, leading them to a Super Bowl win in 2012.