The 34-year-old defender retired from international football last week to concentrate on his club career.
Ferdinand has made 432 appearances for United since his debut in 2002, winning a sixth Premier League title this season.
He says "who wouldn't want to play in this fantastic team in front of 76,000 fans each week? It has been an incredible journey and I am glad it will continue."
New United manager David Moyes says "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."