Italy prop Martin Castrogiovanni has turned down offers from French clubs to sign a new contract with Leicester.
Castrogiovanni has been a major success at Welford Road since his arrival in 2006 but his current deal was due to expire at the end of the season.
Stade Francais were among the clubs pursuing the 29-year-old but he has turned down more lucrative offers from overseas to commit his future to Leicester.
Castrogiovanni said: "A player has to think about a lot of things when he is trying to decide on the future, and money is not everything.
"I have always said that I enjoy my rugby at Leicester. I like it here and I always had in my mind that I wanted to stay.
"The club and the players have been great for me and I'm very happy here."
Leicester director of rugby Richard Cockerill views Castrogiovanni as a key member of the squad, adding: "Castro is a world-class player and we are delighted that he has decided to stay here.
"He's moved to the top levels of the game during his time with us and our environment certainly suits him.
"He's happy in Leicester, he's very popular with the supporters and with his team-mates.
"Everyone knows that Castro has had opportunities to go elsewhere, but he's shown his commitment to the Tigers."