The veteran has enjoyed a return to favour under new manager Harry Redknapp, appearing in nine games since his appointment despite playing only thrice previously this season.
"I'm absolutely delighted," he told the club's official website. "It's changing times once again with Harry coming in and I find myself playing more now than I did under Mark Hughes.
"I'm just so delighted to commit myself to the club for another year – I'm enjoying my football more than ever.
|18/1||Shaun Derry is 18/1 with Bet365 to score anytime when QPR play Manchester City
"Now I'm back in the side and I'm appreciated by the fans as much as I have been since I arrived here and that means so much - it feels like home here.
"I've come to the club at the latter stages of my career but, without question, I've enjoyed the happiest time of my career at QPR."
The Rs have taken 11 points from as many Premier League games since Redknapp took over and Derry agrees that the new boss has given the squad fresh impetus.
"Harry's got everyone believing again," he enthused. "There's a togetherness about us now. The team spirit – which comes through runs like this – is improving all the time.
"We're all coming together at the moment. We're showing that togetherness that is required."