The 24-year-old joined Bournemouth from Ipswich Town in the summer of 2015, but only made one Premier League appearance during the 2015-16 campaign after suffering a serious knee injury on his debut.
Mings has since established himself in Eddie Howe's first team, however, and the former Southampton youngster has now been handed a new long-term contract at the Vitality Stadium.
"It was an easy decision for me because I'm very settled down here," Mings told Bournemouth's official website. "The first two years of my time wasn't an easy one, with trying to get in the team and getting injured on my debut.
"But I came out of it the other end, had a bit of a run in the team last year and feel like I am in a good place now. I'm over the moon to be staying."
Bournemouth chief executive Neill Blake added: "I'm delighted that Tyrone is the latest player to sign a new deal with us. He had a very tough start to life here with a serious injury but has come out the other side a better player and person for the experience he has been through.
"Tyrone is a player of huge talent and potential, an exceptional athlete and someone who has a very bright future at this club."
The length of the contract has not been disclosed by Bournemouth.