Murphy has captained two successive Guinness Premiership Final-winning teams and has now put pen to paper on a new deal with his only professional club.
“I’ve been here a long time and it shows how much Tigers is a part of my rugby life that I am extending my contract here again,” said Murphy, who is one of the most decorated players in club rugby with seven Premiership titles, two Heineken Cups and an Anglo-Welsh Cup win as well as 67 caps for Ireland and two Test appearances for the British & Irish Lions.
“I count myself very fortunate to have played in so many great teams at Leicester and to be able to run out in front of our incredible supporters at Welford Road.
“As defending champions, we are obviously there to be shot at again, but we’ll be looking forward to the challenge when we return for pre-season.”
Tigers head coach Richard Cockerill said: “We’re delighted that Geordan has agreed a new deal with the club. He is a world-class player and he sets a superb example as a player, both on and off the field.
“He’s our longest-serving player now, he's a very popular guy around the club and he’s certainly been adopted by the supporters as one of their own.
“I don’t think he’s ever really contemplated playing anywhere else and he still has so much to offer the game as a whole and Leicester Tigers in particular.”
Murphy made his Tigers debut as a teenager back in November 1997 and has amassed 268 first-team appearances for the club so far.
The Guinness Premiership Final victory in May was his 249th start for Tigers and he has scored 88 tries and 660 points as a Leicester player.
Murphy’s 2009/10 season comes to a conclusion today with the Ireland squad playing against Australia in the final Test match action of the campaign.