The Armenian star will finish out this Serie A campaign before spending one more year with the Italian side
In addition, Roma announced that a preliminary agreement has also been reached for Mkhitaryan to remain with the Italian club for the 2020-21 season.
The Armenia international joined Roma on a season-long loan from Arsenal in September, making 19 appearances while scoring six goals for the Serie A side so far.
“I’m very pleased,” Mkhitaryan said in a statement.
“I’m happy to extend my stay here, because I still have things that I haven’t achieved yet that I want to achieve. I’m looking forward to it.”
Roma CEO Guido Fienga: added: “We are happy that Henrikh has decided to stay with us, and help us continue to grow.
“The club’s targets have not changed and we always want to have players at our club, like Micki, who show their desire, professionalism and determination, who represent our club and our fans in the right way.
“I hope Micki stays at Roma for a long time – and I want to congratulate him on the birth of his son here, too.”
Mkhitaryan originally joined Arsenal from Manchester United in 2017 as part of a swap deal involving Alexis Sanchez.
He had originally joined Man Utd from Borussia Dortmund, where he emerged as a star by scoring 41 goals in 140 appearances across three seasons with the German giants.
He then moved to Old Trafford in 2016, becoming the first Armenian to play in the Premier League, and netted 13 goals in 63 games before making the move to Arsenal.
However, the midfielder struggled to make a good impression at the Emirates, playing 58 games while scoring nine goals during his time in London.
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He has been a regular for Roma, however, with the 31-year-old starting both of the club’s matches since Serie A’s restart after it was suspended due to the coronavirus pandemic.
Mkhitaryan and Roma are set to face Udinese on Thursday before visiting Napoli on Sunday.