Hebburn-born Rigg, who comes from a mixed family of Sunderland and Newcastle United fans, has been tracked by the Magpies for the best part of two years, while the likes of Liverpool, Bayern Munich, Chelsea, Manchester City and Manchester United have also shown interest.
Rigg turned 17 last month – making him eligible for a pro deal, and he has opted to remain at the Stadium of Light until 2027.
“I am absolutely buzzing, to be honest,” said Rigg. “It is a proud moment for myself and my family to be signing my first professional contract at a club like Sunderland. I have been dying to sign it for almost a year now. I want to develop as a player and improve as a person – and I believe this is the best place for me to do that.
“All the staff have been unbelievable with me throughout my journey at the Academy of Light, but there are still so many improvements I can make. The hard work starts now, but I am looking forward to making many more memories representing this club.”
The midfielder went on to make 21 Championship appearances last season and scored in home matches against Southampton and Blackburn Rovers.
Sporting Director Kristjaan Speakman added: “I’m delighted for Chris, who has always communicated to us that Sunderland is where he wants to be. Everyone is aware of how difficult it can be to retain top talent in today’s climate, and this would not have been possible without great people.
“Robin Nicholls and our Academy staff undertake excellent work and I’m pleased for them all that another academy graduate has committed their future to the club. Chris’ talent, and more recently his performances within the first team, made interest and speculation inevitable, and it is a testament to all behind the scenes that he has committed his future to our club.”