The deal runs to June 2025 with the option of a further 12 months.
The deal runs to June 2025, with the Canaries having the option to extend by a further 12 months.
Mumba, 19, joined Norwich from Sunderland last summer and made six first-team appearances in 2020-21, including four in the Championship en route to the club securing promotion to the Premier League as title winners.
He told Norwich’s website: “It feels great. I’m blessed right now to have the chance to sign a new contract here. It’s been an amazing spell, an amazing experience and I’m grateful to be here and continuing that.
“It’s every young teenager’s dream to be in the league that we’re in. Hopefully, I can just keep my head down and work hard and the chance comes, and I take it.”
Norwich boss Daniel Farke added: “Bali has shown on several occasions his potential. He’s a brave, young, modern full-back with a great attitude. He is a player who is always brave on the football pitch. He’s still young and there is lots of room for him to develop.
“He is not in an easy place, competing for a position in the team with players like Max Aarons at right-back and a Greek international in Dimitris Giannoulis at left-back, but has great character and always has a smile on his face.
“We will continue to give Bali the opportunity to improve and develop. He was involved in some really good games last season, then had a bit of an injury, but we’re all now really happy that we have him tied to a new contract.”