The 18-year old told the club's website: "I am delighted to have signed a new contract here at Manchester United.
I have enjoyed every minute since I joined this great club and I want to continue the progress that I feel I have made so far.
"I am learning every day from the manager and the coaching staff. I appreciate the trust that the club has in me and I want to repay that with my performances on the pitch."
Jose Mourinho added: "Tim is young player with great potential. I am pleased that he has signed a new contract and I am delighted at the progress he has made so far.
"It is clear to see that he is learning every day in training and there will be plenty of opportunities for him as the season continues."
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