The 21-year-old was linked with a move to Bradford City recently and County chairman Brendan Elwood was delighted to keep hold of the promising star.
"We are delighted to have secured the services of our talented young striker for another three years," Elwood said.
Wilbraham is The Hatters leading scorer this season with nine goals and his impressive form had Bradford boss Jim Jefferies monitoring him.
Jefferies is on the lookout for a striker following the departure of Dean Windass, but a move for Wilbraham now appears unlikely following the youngsters decision to extend his deal at County.
