The Baggies boss' current deal was due to expire in May at the end of the current Premier League season, but will now stay on in the West Midlands for at least another two years.
There was a sense of inevitability about West Brom's strike - having scored 49% of their goals last season from set-pieces, they continued that run with the aid of some poor Bournemouth defending.
The Baggies chairman said: "We are continuing a transition from one ownership to another and it is absolutely essential that this process is accompanied by stability within the club".
"To start well was very important for us".
"We can never underestimate just how important it is to keep our place in a league that is now the most famous and the most followed in the world", he added.
Pulis wants Middlesbrough centre back Ben Gibson, Everton midfielder Gareth Barry and Crystal Palace defender Joel Ward, while Barcelona centre half Thomas Vermaelen has also been linked with a move to West Brom.
"They work hard, but we need to get some players in and quickly".
"But I do believe in the future of these young players and that's an important part of the development of the club, especially with the incredible rises we are seeing in prices within the transfer market". We had the most shots on goal and the most corners.
"We can take enormous confidence from this".
"As for the season ahead, we of course want to improve our Premier League challenge and do everything we can to make a strong challenge in at least one of the major cup competitions".