The Swansea-based region announced they had finalised terms with 23-year-old Biggar to keep him at the Liberty Stadium until 2016.
And it will also be welcome news for the Welsh Rugby Union, given the player exodus of recent seasons. Mike Phillips, Gethin Jenkins, Luke Charteris, James Hook and Lee Byrne currently play in France, although Jenkins will return to Cardiff Blues next season, while Jamie Roberts and Dan Lydiate are likely to join Paris-based Racing Metro later this year.
Biggar, though, has decided that his rugby future lies in Wales. He was a pivotal part of Wales' 6 Nations title success this season, starting all five games, including the record 30-3 victory over England when he kicked a drop-goal, penalty and conversion.
"This is an organisation that has always been very good to me and supported me, so it's great that I can recognise that by committing my future to the region," 16 times-capped Biggar said.
"It is always nice to get things sorted and to be all done and dusted. Now I've signed, it means I can concentrate on the next few weeks and help the team to secure a play-off place without any distractions."
Biggar made his Ospreys debut as an 18-year-old, and he has progressed to become the region's record points-scorer, averaging almost 10 points a game in 121 first team appearances. "Some negotiations can be straightforward, others take a little bit more time, but what's important is that you get it right in the end," he added.
"I think that both parties are very happy with where we are and can really look forward to the future positively. The Ospreys wanted to keep me and I wanted to stay, so it's always been a case of agreeing on a few things. It's not just financial, there are other things that come into the equation.
"This is a great environment with fantastic facilities and great coaches. It brings the best of you as a player, and I consider myself fortunate to have come through this system to represent my home region. My aim is to be competing for trophies with the Ospreys every year.
"I have discussed this at length with the coaches and management here, I've made that ambition absolutely clear and I wouldn't have committed for the next three years if they didn't share those aims. We know how difficult it is, with the salary cap and things like that, but that doesn't mean we can't continue to be successful."