The Welshman, who made his first-team debut in March 1991, has made 862 appearances for the Red Devils, scoring 158 goals, and he has a raft of winners’ medals having won the Premier League 11 times, the FA Cup four times, the Carling Cup three times and the Champions League twice.
And this new deal means Giggs, 37, will enjoy a 21st season as a played in the United first-team.
He told the club’s official website: “All I’ve ever wanted to do is play for United and I’ve been lucky enough to do that for 20 years.
“It’s great to know I’m still contributing to the team’s success and I feel I’ve got a lot to offer on and off the pitch.
“This is an exciting time to be involved with so many good young players coming through.”
And manager Sir Alex Ferguson added: “You run out of words to describe Ryan Giggs. He is a marvellous player and a wonderful man.
“To have the desire and the ability to play at the top level in such a physically demanding position at his age requires a special person.
“He is still turning in man of the match performances and his experience is so vital for the younger players in the squad.”