The 34-year-old midfielder will extend his relationship with United into an 11th year with the new contract, having arrived at Old Trafford from Tottenham in July 2006.
Carrick has gone on to win five Premier League titles, an FA Cup, one League Cup, a FIFA Club World Cup, and a UEFA Champions League in his time as a United player.
He told the club’s website: “This great club has been a part of my life for the past 10 years, so I am delighted that this incredible journey is continuing.
“It’s great to have the opportunity to work under Jose Mourinho, who has achieved so much during his managerial career. I would like to thank the fans for their unwavering support. Winning the FA Cup was a special moment and, hopefully, we can go on to win more trophies in the future.”
Mourinho, who made Villarreal defender Eric Bailly his first signing on Wednesday, is happy to have an experienced head like Carrick as part of his squad.
He said: “Michael is a very intelligent midfielder and a great reader of the game. I am pleased that he will be extending his contract.