The 42-year-old has agreed to sign a revised one-year rolling deal which has "tweaked" a few legal stipulations, though the length and salary remain unaffected
Lennon secured his second successive title with the side last season but witnessed the Hoops suffer a Champions League qualifying first-leg defeat to Shakhter Karagandy on Tuesday night.
The 42-year-old, who has been in the role since 2010, has penned a revised deal with the Celtic Park outfit and insists he has not received a wage bump.
"It is a new contract but there is no change in the remuneration and there is no change in the way the deal is, in terms of length," he told reporters ahead of their home tie with Inverness on Saturday.
"It is still a one-year rolling contract, it is just there is a few legal stipulations and conditions that I wanted tweaked a little bit and the club have agreed to do that and I signed it this morning.
"The rolling contract works for both parties, that is the way it was for Martin O'Neill and Gordon Strachan and I am no different.
"Unfortunately for me, it is not a bumper contract as was reported but it is nice thinking that way.
"There are other stipulations in the contract that I have agreed to but in terms of remuneration it is the same as it was."