Croydon-born Hodgson, 72, took charge of his local club in September 2017 and has led the club to respectable 11th and 12th placed finishes in the last two seasons – the club’s fifth and sixth consecutive campaigns in the top-flight respectively.
Hodgson has today committed to extend his managerial career beyond 44 years, in what has become an unparalleled existence in football management at the highest level.
Chairman Steve Parish said: “I’m delighted that Roy has agreed to extend his contract with the club, and has reinforced his commitment to help us extend this period of unprecedented stability in the top flight.
“As I’ve said on many occasions, it is extra special that Roy has a long connection with the club and local community. He has established excellent relationships with everyone at the club, and crucially, the players trust and respect him.”
Speaking after signing his new contract with the Eagles, Hodgson said: “I am delighted that the club and I have reached agreement to extend my contract. I am proud of what we have achieved since I was appointed two and a half years ago, and I look forward to us working together for the foreseeable future.
“Everyone knows how I feel about the club that I supported as a boy, I feel a special bond with the supporters and know that myself, the owners and the players are all working together to achieve the same goal.”
Watch the manager's press conference previewing the match against Watford today at 13:15 GMT on Palace TV or on the club's offical app.