The 23-year-old is the top tackler in the Guinness PRO14 with 156 and has also made the most carries with 158.
Cracknell arrived at the Liberty Stadium from Leeds four years ago following playing spells in South Africa and Colwyn Bay.
“It’s fantastic to be a part of this squad,” said Cracknell.
“I believe this is an environment that will allow me to keep developing and get more experience of big games against top sides. I’ve gained a lot of experience and learned a lot since I came here.
WI took an unconventional route to Swansea I suppose, a different sort of experience to some of the other guys, and I want to keep learning and improving. It’s fantastic to be a part of this squad, with some great players to learn from. I’m playing regularly, I’ve been involved in some big games, and I believe this is an environment that will allow me to keep developing and get more experience of big games against top sides.”
A former Wales U20 cap, Cracknell made his debut during his first season with the Ospreys, against Gloucester in the Anglo Welsh Cup in January 2015, one of three appearances that campaign. Since then, the former Wales U20 cap has established himself as a key member of the squad, featuring regularly in the PRO12/14 and in Europe, playing across all three positions in the back row. Cracknell has played 55 games for the Ospreys scoring three tries.
“Crackers’ is a mountain for us, he’s someone who is really starting to show the kind of consistency that has taken his game up several levels, and we are delighted that he sees his future at the Ospreys,” said head coach Steve Tandy.
“He does a phenomenal amount of work every time he steps onto the field, he leaves nothing out there. The stats tell a story on their own but there’s a lot more to his game.
“He puts his body on the line every week and his attention to detail is phenomenal in every aspect of his preparation and recovery. Olly has a very bright future ahead of him, we are all just really pleased that we’ll have his services for another two years at least.”
