Grabbing the stadium microphone minutes after their 3-0 Bundesliga win over St Pauli, the German international told the fans: "I have extended my contract and will stay here until 2016. Long live Bayern".
Schweinsteiger, 26, has become an influential figure for club and country and helped Germany to a third-place finish at the World Cup in South Africa earlier this year.
Bayern coach Louis van Gaal recently urged the club to consider selling Schweinsteiger at the end of the season should he refuse to sign an extension, so as not to lose out on a transfer fee worth tens of millions of euros.
