Former Sunderland man McShane has made 98 appearances for the KC Stadium outfit since first joining them on loan in 2008.
The Republic of Ireland international made his deal permanent in 2009 and is ecstatic to have extended his stay further after helping Steve Bruce's men back to the Premier League last term.
|4/7||Hull are 4/7 with BetVictor to be relegated next season
"Last season was such a great season and then I got offered the new contract. I couldn’t wait to come in and get it signed and now I can just get on with looking forward to the new season.
"I’m really looking forward to testing myself in the Premier League again. When we got relegated from the top flight in 2010, it was always my aim to get back up.
"Now I’ve got the opportunity to play up there again. I’ll admit there were times when I didn’t think it would happen, but we had such a great season last year and we’re back up there now.
"It's certainly been a rollercoaster ride over the last few years, but that’s what a football career is and deep down I’ve enjoyed the majority of it.
"It's time to prepare for the next part of it now and look forward to the new season. I’m sure the first two or three weeks will be tough but I can’t wait to get into it."