Roy Hodgson will take charge of Crystal Palace for the forthcoming Premier League campaign.
Hodgson was installed as Patrick Vieira's replacement at Selhurst Park in March and fired a relegation-threatened Palace to 11th place in the league.
Hodgson said: “I am immensely pleased and proud to be extending my time at Crystal Palace, and I would like to thank the Chairman and Sporting Director for their continued faith in me.
“I know what a fantastic squad we have here. It’s a great blend of youth and potential, alongside experienced players with Premier League and international pedigree.
“I have spoken with the Chairman at length and we agreed that we must be ambitious in getting the most out of such talent. As such, we have set ourselves the target of a top-half finish, which we believe is eminently achievable with such a fabulous group of players and the most magnificent supporters who get behind the team, week in, week out.”
