The 36-year-old, a veteran of over 800 games for the Reds, has been in scintillating form this season and, according to Sir Alex Ferguson, fully merits the reward of his new deal.
“Ryan deserves a new contract and I am sure he will play for another two years," said the manager. "His form is fantastic at the moment and he is playing some of his best football.”
Giggs himself is very pleased, and is typically looking to the future.
“I am delighted that I have agreed one more year," said the winger.
"I am enjoying my football more than ever and I am looking forward to hopefully winning more trophies with United."
The new deal will extend Ryan's career beyond the 20th anniversary of his United debut.