The 39-year-old penned his first professional deal with the Red Devils in 1990 and has since made a club-record 931 appearances while winning 12 Premier League titles, four FA Cups and two UEFA Champions League titles. His next game will be his 1,000th for both club and country.
The winger is not ready to call it quits yet, and he insists he is excited by the prospect of adding to his already impressive honours list this season.
“I am feeling good, enjoying my football more than ever and, most importantly, I feel I am making a contribution to the team," Giggs told the club's official website. "This is an exciting team to be part of, with great team spirit, and we are again pushing for trophies as we head towards the business end of the season."
United boss Sir Alex Ferguson also expressed delight at the news, and suggested Giggs' ability and hunger are "as strong as ever."
“What can I say about Ryan that hasn’t already been said? He is a marvellous player and an exceptional human being," Ferguson said. "Ryan is an example to us all, the way in which he has, and continues to, look after himself.
"He has fantastic energy for the game and it is wonderful to see. Ryan seems to reach a new milestone every week and to think that he now has 23 unbroken years of league goals behind him is truly amazing in the modern-day game."