Manchester United announced the deal on their website (www.manutd.com) on Friday with the 28-year-old having just a year to run on his old contract. (Agencies)
According to media reports, Rooney’s new deal will earn him up to 300,000 pounds a week.
Rooney, popularly known as Wazza, said he was certain that this was the start of another successful chapter in Manchester United's history under manager David Moyes.
“I am really excited to be a part of the club's future and want to thank David Moyes and (executive vice-chairman) Ed Woodward for their belief and support in me," said Rooney.
"The fans have always been a huge part of this club and the support they have given me since my debut against Fenerbahce has been amazing," added Rooney, who scored a hat-trick against the Turkish side to announce his arrival at Old Trafford.
Moyes, who worked with Rooney at Everton, said: "With his ability, his experience and his desire to succeed, he is a vital part of my plans for the future and I'm absolutely thrilled he has accepted the challenge. I said last July that Wayne has an outstanding chance to be a true legend of this club's long and rich history.”
"He is just 42 goals away from overtaking Sir Bobby (Charlton) our record goal scorer and becoming the first United player to hit 250 goals for the club. These opportunities only come to special players and I'm confident Wayne will set a new record that will take decades to reach. These are really exciting times for everyone connected with the club,” he added.
Rooney has made 430 appearances for United, scoring 208 times, and is fourth on the club's all-time goal scorer list behind Jack Rowley (211), Denis Law (237) and Charlton (249). He has won the Champions League, five Premier League titles, two League Cups and the FIFA World Club Cup as well as the PFA and Football Writers' Player of the Year awards in 2010.
Manchester United announced the deal on their website (www.manutd.com) on Friday with the 28-year-old having just a year to run on his old contract.