Emery has been in charge at Valencia since 2008 and led teh club to a third-place finish this season.
He told PA: “I am very happy to have another year with one of the best clubs in the world. It is my intention to keep developing this club and that project drives me.”
He added: “The goal we have set is to improve and take further steps to make the most of our performance. We have a great team and they can give us great joy.”
