Chelsea have confirmed Ashley Cole has put pen to paper on a one-year contract extension at Stamford Bridge.
Cole's previous deal was set to expire at the end of the season and at one stage he was expected to leave the Champions League holders.
However the 32-year-old, who had been linked with Real Madrid and Paris Saint-Germain, has agreed fresh terms at the club he joined from Arsenal in 2006.
Cole said on the club's official website: "I am pleased I will be starting my eighth season at Chelsea.
"I wanted to stay at Chelsea because we are always fighting and challenging for trophies. That desire and the will to want to win things have not gone."
Cole, who has played 293 games for Chelsea, added: "I have great memories here and I enjoy coming to training every day. The staff are amazing and I enjoy training with the lads.
"I have been able to fulfil nearly all my ambitions at Chelsea. I have won the Champions League, the League, I have won FA Cups here but of course you don't want to stop winning trophies and being at a big club, you are always fighting to win a trophy.
"Being here for seven years and being at Arsenal before that playing for trophies, you never lose that hunger. I wanted to stay at Chelsea because we are always fighting and challenging for trophies. That desire and the will to want To win things have not gone."
With Chelsea, Cole has won one Premier League title, four FA Cups, one League Cup and was also part of the team that defeated Bayern Munich in last year's Champions League final.
Cole said there was a slight sense of trepidation at what might have occurred had he left Chelsea.
Discussing his stay at the club, he said on Chelsea TV: "It's gone quick. After six or seven years and the trophies I've won here and the great memories I've got here it was a little bit scary and sad thinking I could have left. But I'm glad to have signed and stay here for another year."
Information from the Press Association was used in this report.