The England international has committed his future to the Toffees until beyond his 34th birthday.
The 30-year-old has established himself as one of the most consistent defenders in the Barclays Premier League since moving to Goodison Park from Sheffield United for £4million in 2007.
Everton chief executive Robert Elstone told the club website: "We are delighted Phil has agreed to commit his long-term future here at Goodison Park.
"Phil is a hugely important and influential player and I, like many Evertonians, look forward to seeing him play in a blue shirt for many years to come.
"Discussions have been taking place for a short while and, now they are completed, I would like to thank Phil and his representatives for the professionalism and courtesy shown throughout those negotiations."
Jagielka is closing in on 200 appearances for Everton in all competitions and his performances for David Moyes' men have earned him a regular spot in the England squad.
Comfortable at centre-back and right-back, the defender was in Roy Hodgson's Euro 2012 squad and has now won 16 caps for the national team.
Jagielka has deputised as Everton captain this season during Phil Neville's injury lay-off.
His new deal is a further boost to the club following Seamus Coleman signing a long-term contract last week and could help persuade boss Moyes to commit his own future to the club. The Scot is out of contract at the end of the current campaign.