Neymar has signed a new contract with Paris Saint-Germain, committing to the Ligue 1 club until 2025.
The 29-year-old previously stated in January that it was his preference to remain at the Parc des Princes, having been linked with a return to former club Barcelona last summer.
Confirmation of a new contract also follows comments made by PSG sporting director Leonardo in March, where he revealed he was hopeful an extension could be reached.
Neymar joined PSG from Barcelona in 2017, in a world-record £200m move.
Speaking to the official club website, Neymar said: "I'm very happy to be extending my contract with Paris until 2025.
"The truth is that I'm very happy to be staying here for four more years, to be a part of the club's project, to try and win titles, to try and achieve our biggest dream which is the Champions League.
"So I'm happy to be staying at the club, to be a part of it and to be extending my contract.
"The joy of being part of this squad, of the team, of Paris Saint-Germain, the club. And then, of course, the affinity I have with the club, with the work, with the players that are in the squad today, with a great coach who will certainly help us even more.
"These things make you believe in the project even more."
PSG head coach Mauricio Pochettino added: "I think Neymar's contract renewal clearly speaks for this club's ambitions, not just for today or tomorrow, but for the future in the short, medium and long term.
"This is also important to make everybody realise that this club works to always improve and to win, which is always the main goal, despite the fact that this is a complicated moment for us."
PSG have been unable to turn domestic dominance of recent years into success on the European stage, but see Neymar as a big part of their attempts to win a first Champions League title.
Last season, under now Chelsea head coach Thomas Tuchel, the French side reached the Champions League final.
On Tuesday, Pochettino's side bowed out at the semi-final stage following a 4-1 aggregate defeat to Manchester City.
Neymar is confident the club are getting closer to achieving their goal and will learn the lessons from their recent disappointments.
He added: "Of course, my goal when I came to Paris Saint-Germain was to help get Paris Saint-Germain to the top, among the very best, and we are getting close.
"We are gaining more and more experience to help us negotiate these types of games, to know how to play in the Champions League.
"And Paris is on the right track, we are getting closer and closer to the taste of winning the Champions League. I'm sure we can do it."