The Argentine midfielder has suffered two serious knee injuries since joining the club from Instituto in 2009 but has been handed a new one-year deal ahead of the new season
The 27-year-old missed the second half of last season after tearing his cruciate ligament.
But with QPR back in the Premier League following promotion through the Championship play-offs, the longest-serving player in their squad has been handed fresh terms until July 2015.
"It's nice to sign the new deal," he told the club's official website. "It took a little bit of time, but I am so happy everything is now sorted.
"It's been quite an amazing journey so far - relegation, promotions and plenty more - but it's been a beautiful experience.
"I hope the next chapter is the most epic yet.
"The Premier League is where every player wants to play and I am no different.
"We all know that the Premier League will be very difficult, with so many great teams, but we are looking forward to the challenge ahead."
QPR open their Premier League campaign against Hull City on August 16.