Benzema's extension comes after Thibaut Courtois, who penned a five-year contract with the club earlier this week and will be with the side until June 2026.
Benzema having arrived at Real in 2018 has scored 281 goals.
The new deal will see Benzema entering into his 14th year with the Spanish club.
"I’m proud of my career and proud to be renewing my contact here and to be staying on at this club, which for me, as I’ve always said, is the best in the world.
"I’m going to keep on working and enjoying myself because every day here is all about the enjoyment for me.
"I don’t look at the statistics. I just enjoy myself out on the pitch. I’m really happy when I score goals, provide assists and do things that please the fans.
When quizzed on his record making in the Real Madrid shirt, the 33-year-old answered.
"I’ll obviously look back on them when I retire, but I’m just enjoying myself every day, in training and the games, because you play for Real Madrid to rewrite the history books".
Speaking about new manager Carlo Ancelotti, Benzema added;
"He’s a great coach. Nobody has any doubts about that. He just asks me to play my game. We chat before training to see how I’m feeling and discuss whether I have to do anything different on the pitch.
"It all depends on the relationship between the player and the coach, but I feel good playing under him."
Benzema returned to the French national team for the first time in many years during Euro 2020.
The former Lyon forward is Real Madrid's fifth-highest goalscorer of all time.
Real Madrid signed Benzema for a reported fee of €35 million, rising to €41 million based on incentives.
Benzema registered two goals in Madrid’s first LaLiga opener against Alaves.
The Lily Whites will be hosted by Levante in their second game of the season on Sunday.
