The 19-year-old, a product of the thriving Academy section at the club, has enjoyed a stunning season at Warriors after bursting into the first team and making his Guinness Premiership debut off the bench against Leicester Tigers at Welford Road in October.
The Solihull-born speedster, recently named in the England Under-20 set-up, scored a try on his first senior start against London Irish in the EDF Energy Cup and his first Guinness Premiership try against Newcastle Falcons earlier this month.
Hot property Benjamin has now scored in each of his last three games for the club in domestic and European competition.
Director of Rugby, Mike Ruddock, said: "We are delighted that Miles has signed a new contract at the club. He has been making rapid progress and he continues to impress on the big stage.
"He is keen to learn and keep developing his game and as such we are pleased that Rico Gear has been able to act as his mentor.
"We predict a big future for Miles, however, he is still only 19 and it will be a year or two until the best of him will be seen.
Benjamin added: "I'm really pleased to have signed a deal with a club that have shown so much faith in me and have always supported my development.
"I have worked hard to get involved with the first team and I want to keep my position and keep moving forward to help the club achieve success.
"I believe Warriors is the best environment for me to really fulfil my potential by learning as much as I can from the coaching staff and experienced and established players in the team."