Roy Hodgson has signed a contract extension which ties him to Crystal Palace until 2020, the club announced on Friday.
The former England manager, who celebrated his 71st birthday on Thursday, took charge last season after the disastrous reign of Frank de Boer.
He steered the Eagles to Premier League safety and has been rewarded with a new deal by the south London club.
Hodgson said: “I am delighted to have extended my contract with Crystal Palace. It is a club that has been close to my heart since I was a youngster growing up in the borough of Croydon, and having stood on the terraces in the 1950s, it is a wonderful thing to be managing my boyhood club all these years later.
“We can be proud of our achievements last season in turning things around despite a poor start, but this year we want to ensure we don’t endure the same struggles.
“I am thrilled that I have the support of the owners, who believe that I am the right man to help this club move forward and I will do everything I can to make that happen.”
The season ahead will be Hodgson’s 43rd in management, after taking charge at Swedish side Halmstad in 1976.
Palace chairman Steve Parish said: “I’m thrilled that Roy has agreed to extend his contract and I know the news will be a big lift to everyone connected with the club.
“We are looking to build on the hard work and results achieved last season and I believe this is the most important part of making that happen. It’s of course fantastic that Roy has a long connection with the club and I think that understanding the south London mentality is a benefit, but make no mistake he’s here because he’s the very best man for the job as we look to take this club forward on and off the pitch.
“I am equally pleased that (assistant manager) Ray Lewington has also extended for the same period, putting us in great shape for this season and beyond.”
Hodgson’s contract extension represented more good news for Palace, who kept hold of highly-rated forward Wilfried Zaha in the summer transfer window.
The Palace boss said at his Friday press conference: “I’m delighted Zaha’s still here. He’s such an iconic figure here. There’s never been any question of the club wanting offers for him. I’m not aware of bids for him.”
On his own new deal, Hodgson added: “It was never going to be a problem for me to sign a new contract as long as the club wanted me here. We first discussed it at the end of last season.”