Lescott can play in central defence or left-back and his aerial threat has also helped him contribute eight goals to Everton's cause so far this season.
"Since joining us Joleon has more than proved his worth," said Moyes.
"The fact he is not only happy at Goodison Park but also willing to commit his future to Everton shows that we are most definitely moving in the right direction."
Lescott was named in England manager Fabio Capello's first squad and has four caps to his name so far.
He made his international debut against Estonia in October 2007 as England won the Euro 2008 qualifier 3-0 but was part of the side that lost to Croatia and failed to reach this summer's finals.
Everton chairman Bill Kenwright added: "We have worked really hard over the past 12 months or so to secure the futures of our brightest and most gifted young players.
"That includes men like Joleon, Tim Cahill, Mikel Arteta, Andy Johnson, Leon Osman and Tony Hibbert.
"Joleon is absolutely delighted to have agreed this new deal.
"I am delighted for him and also for our supporters who have really taken him to their hearts since his arrival from Wolves."