The 34-year-old clinched his sixth title with the Red Devils this season and, having called time on his England career last week, has been rewarded with another term at Old Trafford.
His future had seemed up in the air following Sir Alex Ferguson's retirement and the appointment of David Moyes but after admitting during the title celebrations that he was keen to play on, United have moved quickly to secure his immediate future.
Ferdinand said: "I am delighted to have signed a new contract. Who wouldn't want to play in this fantastic team in front of 75,000 fans each week, it has been an incredible journey and I am glad it will continue.
"I can now fully concentrate on my club career, which has worked well for me over the past few years.
"This is a great team to be part of and we are now moving into a new era with the club which is very exciting.
"I have met with David I am really looking forward to working with him and winning many more trophies with this great club."
Moyes paid tribute to the defender and is looking forward to working with him next season.
He added: "It is clear for everyone to see that Rio has had one of his best seasons with the club and I think even from the outside you can see what a big character Rio is around the dressing room so I am delighted he has signed a new contract and I am looking forward to working with him."
Ferdinand's advisor, Jamie Moralee of New Era Global Sports, confirmed the former England man was delighted to extend his stay at United.
"The club wanted this deal and so did Rio so all went smoothly," Moralee told Sky Sports. "Rio is delighted and so is everyone at the club."
The centre-back arrived at Old Trafford from Leeds in 2002 for a fee that ended up just shy of £30m and has made 432 appearances for the club since.