Navas has enhanced his reputation as one of the best goalkeepers in world football since switching camp from Real Madrid in the summer of 2019.
The 34-year-old Costa Rican goalkeeper has made 75 appearances for PSG since moving from Spain and has won one Ligue 1 title, one Coupe de France and one Coupe de la Ligue in the French capital.
He was instrumental in PSG’s run to the UEFA Champions League final last season and has played a key role again this term as Mauricio Pochettino’s side have reached the semi-finals of Europe’s premier club competition, including saving a penalty from Lionel Messi in the round of 16 stage.
“Very happy to extend Keylor Navas' contract," PSG president Nasser Al-Khelaifi said.
"He is the greatest goalkeeper in the world. He inspires great confidence in the team and our fans love him. He will be a decisive player in the major end-of-season deadlines, and in the years to come."
PSG are keen on securing the futures of their top stars, with Navas joining Juan Bernat and Angel Di Maria in signing new contacts while talks are ongoing with Kylian Mbappe and Neymar to extend their stays too.
Navas will be hoping PSG go one step better than they did last season in the Champions League as they play Manchester City in the first leg of the semi-final on Wednesday.