The deal keeps the Spain midfielder at the Etihad Stadium until 2020, which will mark his tenth year at the Club.
Silva, who is widely recognised as one of City’s greatest ever players, has been in fine form this season during the record-breaking run of 19-consecutive wins that has seen Pep Guardiola’s side establish an eight-point lead at the top of the Premier League table.
“I am so happy to have committed my future to City,” the 31-year-old said.
“I am incredibly proud of what I have achieved at City in my seven-and-a-half seasons here and with Pep in charge, I feel we are in a great position to win trophies this season and beyond.
“The style of football we are playing is a pleasure to be a part of and I look forward to winning more titles in the years to come.”
Director of Football Txiki Begiristain added: “We are very pleased with this announcement. Not only has David Silva been central to the Club’s success over recent years, he remains one of the team’s key players.
“He has shown again this season that he is the best creative midfielder in English football and he will be very important in developing our talented young players in the coming years.”
Silva joined City from Valencia in 2010, just days after becoming a World Cup winner with Spain after they beat Holland 1-0 in the final in South Africa.
And success quickly followed at Club level. At the end of his first season, City won the FA Cup, the Club’s first major piece of silverware in 35 years, and the following year saw the Blues lift their first league title since 1968.
In that time, Silva enhanced his reputation as one of Europe’s finest playmakers and quickly became known as the most consistent attacking midfielder in the Premier League.
He was once again a key player as City won another League title and a League Cup in 2014, the Club’s only ever league-and-cup double, as Manuel Pellegrini’s side scored a remarkable 158 goals in all competitions.
In total, he has won two Premier League titles, an FA Cup and two League Cups during his time at City, and was an important part of our run to the Champions League semi-finals in 2016.
This season he’s played 18 games in all competitions and currently tops the Premier League assist chart with eight. Indeed, since his debut in 2010, no player has assisted more Premier League goals than El Mago.
He is Spain’s fourth-highest goalscorer of all-time, just three behind Fernando Torres and nine short of legendary Real Madrid striker Raul, and remains a vital player for Julen Lopetegui’s side.
Everyone at City is delighted David has committed his future to the Club and we wish him well with the remainder of his career here.