Dane Haylett-Petty has resisted the pull of an overseas contract after the World Cup in Japan and committed to Australian rugby until 2021.
The 29-year-old outside back has signed a two-year contract that keeps him at the Rebels, where he was installed as captain before the start of the Super Rugby season.
"I wanted to do what was best for my development as a rugby player and that was to stay here in Australia and to continue my journey here at the Rebels and Wallabies," he said.
"We have a lot left to achieve at an international level and I want to contribute to the best of my ability.
"The World Cup is a major goal of course but this season we've already spoken about how important the Rugby Championship is and how much we want to get our hands on the Bledisloe Cup for all of Australia."
Haylett-Petty's new deal follows fellow outside back Israel Folau's four-year contract extension earlier in the month, and is a coup for Rugby Australia as the governing body seeks to minimise a talent drain after this year's World Cup.
The form of former Western Force stalwart Haylett-Petty last year after switching to full-back was one of the few bright spots in a terrible 2018 for the Wallabies, who lost nine of their 13 Tests.
"The outside backs are a really competitive position in our side and Dane often leads the way in how he prepares during the week and his commitment during games on the weekend," Wallabies coach Michael Cheika said.
"He's had that experience overseas which has helped mature him as a footballer and I know how desperate he is to have a big part to play in the World Cup later this year."