Coleman has spent 14 years on the Blue side of Merseyside after joining from Republic of Ireland side Sligo Rovers for a nominal fee in 2009.
Coleman has made 409 appearances in total for Everton and has captained the side since 2019.
The 34-year-old's previous contract was due to expire at the end of this month.
“Everyone knows how much Everton means to me which is why it is special to sign this new contract and continue to play for this great club," Coleman said after signing his new contract.
“From the moment I joined more than 14 years ago, the support my family and I have had from our fans and everyone around the Club has been amazing and I never take for granted just how fortunate I am to represent Everton. That has included the honour of wearing the captain’s armband in recent years.”
“I’m keen to continue helping my teammates in any way I can, while passing on my experience to the younger lads and contributing on the pitch as much as possible.
“We know the past couple of seasons have not been good enough for Everton Football Club. But I can assure our fans that I’ll continue to give everything to put that right and, under the manager and his staff, our players will know what is expected of them for the season ahead.”
Everton Chairman Bill Kenwright expressed his delight at the new contract for the Club captain, saying: "The number which always follows every conversation about Seamus is 60,000. But his influence on our football club has been truly immeasurable since we completed the bargain of all bargain-buys way back in 2009.
"Seamus is an Evertonian, a leader – but even more importantly, he is a sincere and genuine man. We all look to Seamus to set the best example. And he always does – on and off the pitch.
“A measure of him to us is that each of Seamus’ last two contracts have been signed when recovering from injury and I am personally delighted he has accepted this latest deal.
“I’ve said it often, Seamus Coleman is one of this Club's greatest heroes in its 145-year history.”
