Kyle Walker has signed a new contract with Manchester City until 2026.
The 33-year-old, who had a spell out of favour last spring and was left out of the starting line-up for the Champions League final in June, was linked with a move to Bayern Munich this summer.
Walker had entered the final year of his existing deal but the England international ultimately decided to stay put, turning down the chance to become one of Bayern's top earners on a contract until 2025 with the option of another year.
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"I'm thrilled to sign a new deal. My future is with Manchester City and that is the best thing for me," said Walker, who has won 15 trophies with the club.
"I've enjoyed every single moment of the past six years at this fantastic club.
"The treble-winning season is one I will never forget and we're ready to go again and try to win more trophies.
"We've got to demand that. We've set the bar and each year it's how do you get better? How do we get better? We seem to be doing that each year.
"We've probably gone to the top of the top where there is only down because are we going to go and win a treble again? Who knows? You know, we could do.
"The odds say that we're not going to, but we need to make sure that we're there competing in the later stages in all competitions and fighting for the silverware.
"But I think one thing that we've done really well here is we take one game at a time. We don't plan for the future. We plan for the present and the present starts on Saturday against West Ham.
"I am delighted to continue at a club that competes for trophies every year and I can't wait to see what the next few years bring."
Director of football Txiki Begiristain hailed a player he classed as the best right-back in the world.
"He is an outstanding footballer and his speed, strength and experience make him such an important member of our squad," he said.
"For me, he is the best right-back in the world, a player with a unique set of attributes. He brings a very special dynamic to our team.
"Kyle has been a huge part of our recent success, and we are confident that he will help us compete for trophies in the upcoming seasons."
Sky in Germany reported in June that Bayern were in advanced negotiations to sign the defender, but Walker wanted to stay at the Etihad and sign an extension to his existing contract.
Guardiola said in April that Walker was unable to play in City's system which saw John Stones move into midfield from defence at a time when the England international had lost his place in the team.
"He cannot do it," Guardiola said of Walker. "He will always have pace; Kyle at 60 years old will be the fastest player in this room. To play inside you have to have educated movements - he doesn't have every one of the characteristics."
Walker, who joined City from Tottenham in 2017 for £50m, has won five Premier League titles, two FA Cups, four League Cups and the Champions League in his six years at the club.
'Guardiola played a key part in keeping Walker'
Sky Sports News' chief reporter Kaveh Solhekol:
"Bayern Munich manager Thomas Tuchel knows the Premier League very well from his time managing Chelsea. He had made Kyle Walker one of his top targets this summer.
"For a long time, it looked like Walker was going to move to Bayern. Reporters and colleagues at Sky Germany were very confident he was going to make that moment but I think Pep Guardiola played a crucial part in getting Walker to stay at City.
"There were pictures of the two of them going for a Japanese meal in Manchester. That could have played a part in Guardiola explaining to him how key he is at City. We've seen Walker captain the club as well.
"He is arguably the best right-back in the world. When he was up against Kylian Mbappe at the World Cup, I don't think I've ever seen a defender play as well as Walker did against him."