The 30-year-old midfielder has spent the best part of 10 years serving the Swans, having joined the club from West Ham United on an initial loan deal in December 2002.
He has gone on to make over 400 appearances for the club, either side of a short spell at Sheffield United in 2010/11, and has helped to take them from the fourth tier of English football to the top-half of the Premier League and the Capital One Cup final.
Britton is delighted to have committed his future to the Welsh outfit and hopes he will be given the chance to see out his playing days at the Liberty Stadium
"I know I've said it before, but I would love nothing more than to finish my career here," he told the club's official website.
"It's been my life for the last 10 years, apart from a six-month sabbatical at Sheffield United, of course, and there's no other place I'd rather be playing my football.
"I never expected things to turn out the way they have when I returned from Sheffield two years ago. The club was in the Championship at the time and there was certainly no guarantee of promotion.
"But we went straight up into the Premier League, have established ourselves in our second season and we are now looking forward to our first major cup final."
He added: "The target for me has always been 200 appearances. That really will be something special for me.
"I'd like to think I can keep performing regularly in the first team for a few more seasons yet. It's probably for others to say, but personally I believe I am playing the best football of my career."
On an ankle knock picked up at West Ham on Saturday, which forced him off against his former club, Britton said: "I am due to have a scan today (Tuesday). It's swollen and bruised, but it feels okay."