Last updated on 20 minutes ago.
England lost to Italy on penalties in the Euro 2020 final.
The new contract will keep the England manager in the job until December 2024.
The national side's manager since November 2016 is currently under contract, which was set to end after the World Cup in 2022.
England's best men's performance in 55 years was in the final of Euro 2020.
It is an incredible privilege to lead this team. "We have a great opportunity in front of us," he said.
The World Cup runs from 21 November-18 December and the qualification stages for Euro 2024 take place from 14 June-21 July.
Steve Holland has also agreed to a new deal.
"I would like to thank the players and the support team for their hard work," he said.
The fans and the squad are excited about what the future holds.
You are special because of the belief.
After Sam Allardyce was fired in September of 2016 he was replaced by Southgate who was appointed permanently two months later.
He led England to the World Cup semi-finals for the first time in 28 years.
They lost on penalties to Italy in the Euro 2020 final, but finished third in the Uefa Nations League.
England has won 44 of their 68 matches under the stewardship of Southgate.
They secured their place at the next World Cup after thumping San Marino.
It has been reported that the new contract will increase his salary to between 5 and 6 million a year.
