Johns Hopkins University said Friday its board of trustees has approved a five-year contract extension for university President Ronald J. Daniels.

Daniels took the helm of the 21,000-student research university in March 2009. Among his priorities have been redeveloping a downtrodden east Baltimore neighborhood next to the university’s medical complex, increasing undergraduate financial aid and promoting interdisciplinary scholarship.

A year ago, Hopkins announced that it will receive a $350 million gift from one of its most famous alumni, Michael R. Bloomberg, who at the time was mayor of New York. It is the largest gift in the history of the Baltimore-based university.

Hopkins spends more than $2 billion a year on research, more than any university in the country.

A Chronicle of Higher Education salary survey, published in December, found that Daniels earned a base salary of $859,555 in 2011 and that his total compensation was worth nearly $1.2 million.