The nine-time world champion Rossi recently revealed his intention to go at full steam seeking his fifth title with Yamaha starting from the season-opening 2018 Grand Prix of Qatar scheduled for March 16-18, reported Efe.
"I want to thank Yamaha, Lin Jarvis and Maio Meregalli in particular for their trust in me, because the challenge is difficult: being competitive until I'm 40 years old," Rossi said.
"I know it's going to be difficult and it requires a lot of effort from my side and a lot of training but I'm ready, I am not lacking in motivation, that's why I'm signing for two more years," he added.
Yamaha's managing director Lin Jarvis said that Rossi's contract extension was expected since the Italian rider showed interest in continuing to race.
"It was very easy to reach an agreement together as a Factory Team we need top riders capable to win and with the total commitment to do what it takes to achieve the goal," Jarvis said.
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