The Portuguese star has further than doubled his payment to $ 314 000 a week.
After penning his deal until 2026, which includes a 12-month option to extend, Fernandes said “ From the moment that I joined Manchester United, I’ve had a special relationship with the club and our amazing fans.
“ I grew up watching this team, dreaming of getting the chance to play here one day.
“ That dream is now a reality and an honour.
“ Even after two years, it still feels amazing to step out at Old Trafford, to hear the fans sing my song and to score in front of the Stretford End.
“ It’s a true privilege to wear this shirt and to fight for our incredible club.”
Fernandes, who fired Portugal to the World Cup in Qatar this week with two goals against North Macedonia, added “ There’s so much more that I want to achieve here, and I know that’s the same for the rest of the team and staff.
“ More than anything, we want to give the fans the success that they deserve.
“ We’ve shared some great moments over the last years, but the best is yet to come from myself and this team.”
The club scale persuaded him of their plans for the future during speeches.
Fernandes, 27, was uncertain about staying at the club during this season following the sacking of Ole Gunnar Solskjaer.
Their exit from the Champions League means they’re moving towards another trophyless season now under the operation of interim head Ralf Rangnick.
But United have moved to get Ajax trainer Eric Ten Hag and start a rebuild towards challenging for the title again.
That has persuaded Fernandes to commit himself to the club in the long- term.
And the news was blazoned after he returned from international duty after reserving Portugal’s place in Qatar.
Fernandes joined United in a January 2020 in a£ 68million switch from Sporting Lisbon.
He speedily established himself as a fans favourite with his creation and goalscoring.
He has gone on to score 49 goals in 117 games for the club.
His pay rise sees him leapfrog club captain Harry Maguire and Marcus Rashford in the earnings list.
But he’ll still pick up less weekly than Cristiano Ronaldo, David de Gea, Jadon Sancho, Raphael Varane, Paul Pogba and Edinson Cavani.
The news is a major boost to United at a time when a number of other players futures are up in the air.
Both Pogba and Jesse Lingard are set to leave the club on a free transfer in the summer.
Rashford is also, for the first time, considering a move out from the club.
It was worried the prospect of failing to qualify for the Champions League coming season, as looks likely, could stall an agreement with Fernandes.
But his commitment will help to kick start a summer of rebuilding at United as they aim to come title contenders again coming season.