Michael Owen has signed a new one-year contract to stay at Manchester United.
The 31-year-old striker, whose deal was set to expire, had expressed his desire to prolong his career at Old Trafford.
"Delighted to be staying for another year. Thanks for all your messages," said the former Liverpool star on social networking site Twitter.
Owen spent much of the season on the sidelines at United, behind Wayne Rooney, Javier Hernandez and Dimitar Berbatov in the pecking order.
He was given a place on the bench for Saturday's Champions League final defeat against Barcelona at Wembley but only made 17 appearances during the 2010/2011 campaign, scoring five goals.
Owen, who has made 89 appearances for England, joined United on a free transfer after spells at Real Madrid and Newcastle following his exit from Anfield in 2004.
"Michael has proved to be a top footballer," stated United manager Sir Alex Ferguson. "It is unfortunate that he did not get more opportunities but the form of Hernandez put everyone in the shade and his partnership with Rooney proved invaluable.
"I am delighted Michael is staying for a further year and we will look to give him more opportunities in the new season."
The news casts doubt over the future of Bulgarian Berbatov, who, despite scoring 20 goals in the league this season, was not even on the bench against Barca.
But Owen added: "I am delighted to have agreed a one-year extension and I cannot wait for next season to start.
"To play alongside so many great players, under an exceptional manager and in front of so many passionate supporters is a real inspiration."