"We have a great group of young talented men with excellent character, so I was pretty keen to stay and be a part of their development."
Since taking over at the Chiefs, Rennie has led the side to back-to-back Investec Super Rugby championship titles in 2012 and 2013 and made the play-offs in 2014. In addition to seven new Chiefs making the All Blacks and another two earning re-calls, Rennie has introduced 39 new players to a Chiefs jersey.
New Zealand Rugby Chief Executive Steve Tew said retaining coaches of the calibre of Rennie was a top priority.
"Dave is a world class coach and the results on the field speak for themselves. He enjoys huge respect from players and fans, and right across the rugby community ..."
The Chiefs season kicks off on Saturday, February 14 against the Blues at North Harbour Stadium, with the Chiefs' first home game the following week on Friday, February 20 at Yarrow Stadium in New Plymouth against the Brumbies. The Chiefs have two pre-season matches. The first one will be against the Blues in Whangarei tonight, and the other will be against the Waratahs in Sydney on Friday, February 6.