The extension of Modric was announced on Wednesday, June 8, 2022.
Modric continues with Real Madrid after playing a key role in their 2022 Champions League victory against Liverpool in the final.
The 36-year-old is widely regarded as one of the best midfielders in world football.
There were speculations that Modric could dump Real Madrid for French Ligue 1 side Paris Saint-Germain as his contract expired this summer.
The midfielder opted to continue his career at the Santiago Bernabéu Stadium for a 10th season.
The decision to extend Modric was made public through a message on the Real Madrid official website.
The message said, ‘Real Madrid CF and Luka Modrić have agreed to extend the player’s contract, who remains linked to the club until June 30, 2023.’
There were reports that Modric could opt to leave with the impending arrival of French youngster Aurélien Tchouaméni.
The Croatian midfielder however will stay at Real Madrid for one more season and is delighted with the decision.
Modric on extension
He took to his official Instagram account to post a message that said, “Very happy to announce that I will continue playing for the best club in the world.
“It has been 10 seasons fulfilling the dream of wearing the Real Madrid shirt, but I continue with the illusion and desire of the first day. We continue. GO MADRID.”
Modric is expected to play a veteran role in his last season with Real Madrid mentoring young midfielders such as Federico Valverde and Eduardo Camavinga.