The former Arsenal keeper has agreed a contract until June 2019 with the Welsh side following a successful debut season.
Fabianski was named the Swansea’s Players’ Player, Best Newcomer and Away Player of the Season after racking up 13 clean sheets during the 2014-15 campaign.
And ahead of the season opener against champions Chelsea on Saturday evening, the 30-year-old said manager Garry Monk was one of the reasons he wanted to commit his future to the club.
“I am very happy here. Right from the very first day, everyone has been very nice to me and they’ve helped me settle in quickly,” he told the club’s website.
“For me it is a great place to work and continue improving as a player.
“It’s a great group to be a part of. Everyone is working in the same direction and we have a great understanding between each other.
“The way the manager sets up the whole environment is very good.
“He puts everything in place so that a player can concentrate fully on improving himself.”