The 22-year-old has become a star performer for club and country, making 144 Premier League appearances and receiving 27 caps for England.
Rice and his Hammers teammates have enjoyed a dramatic transformation over the last year or so, from battling to avoid relegation in 2019-20, to qualifying for the Europa League the following campaign.
This season, West Ham's impressive rise has continued, as they have reached the last 32 of the Europa League, the quarter-finals of the EFL Cup and are currently challenging for a top four spot in the Premier League.
Rice has revealed his ambitions to progress as a player and has also acknowledged how a positive mentality among the Hammers camp has helped the club to evolve.
"Hopefully the club can get in the Champions League and my ambition of course [is] I want to play in the Champions League as well," Rice said after the 2-1 defeat against Manchester City on Sunday.
"I feel like I am young and I want to keep pushing. Hopefully, the club can get in the Champions League and we can keep pushing.
"I feel like if you want to progress you need to have that type of mentality and we've been doing well as a team which has been helping, everyone has gone up a level this year compared to last year. We're doing some really good things so let's just see where the season can take us."
West Ham will be looking to keep hold of fourth place in the Premier League by securing all three points at home against Brighton & Hove Albion on Wednesday night. body check tags ::