Banton, currently in South Africa where he made his ODI debut for England overnight in the series against the Proteas, played the first half of the ninth BBL edition for the Heat, hitting three half centuries at a team high strike rate of 176.98 in his haul of 223 runs.
He thrashed the second fastest half century of all time in the BBL during the rain-affected clash with the Sydney Thunder, scoring 50 from just 16 balls, including hitting five sixes in an over.
Brisbane Heat coach Darren Lehmann said Banton had been identified as a key signing for the club.
"I think anyone who saw Tom during his seven games for the Heat in the BBL would agree that he is a special player and someone we think can play an important role for us over the next two years," he said.
"We wanted to move quickly and are very pleased that Tom has agreed to terms. He's a good young lad and we think his cricket will only get better from here. He's got his first IPL coming up and he's in the English set-up, so we know how highly he is thought of around the world," he added.
The 21-year-old right-hander has played three T20Is for England and shapes as a potential member of their squad for the T20 World Cup in Australia in October.
( With inputs from IANS )