The 30-year-old has penned a new contract which will see him stay at the Liberty Stadium through 2016, taking his total time with the Swans to nine years.
The Spaniard has been part of the Swans' set up for six years already, having played for the club during their time in League One.
And the 30-year-old is delighted with how well the team has performed this season, believing its victory in the Capital One Cup final and impressive Premier League position has played in integral part in the retention of its star players.
“It shows how well things are going here that so many of the squad have signed new contracts,” Rangel told the Swans official website. “The club realizes the players are doing a great job and the board and chairman are rewarding us for that."
He added, “We are getting better and better as a club again this season and everyone here is keen to play their part in helping Swansea City grow. It has been a great story for me since my debut at Oldham in League One."
“After an incredible first season in the Premier League, people doubted whether we could do the same again or even stay up – but look at what we have accomplished already."
Rangel pointed to Swansea's surprising success in its second season, winning the Carling Cup and being in the top half of the Premier League with 40 points.
“We have shown what we can do in the Premier League, now we are looking forward to showing what we are capable of achieving in Europe,” he said.
The right back is delighted to remain at the Liberty Stadium, having settled into life in south Wales fully.
“I arrived in 2007 and I’ve already have six excellent years at Swansea,” Rangel added. “I am settled here, I am enjoying my football."