Chelsea have signed veteran defender Thiago Silva to a new one-year contract through the summer of 2024, the London club announced Friday.

Silva, 38, initially joined Chelsea as a free transfer on a one-year contract after leaving Paris Saint-Germain in 2020. He subsequently signed 12-month extensions in 2021 and 2022.

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"I am honestly so happy to continue my career with the Blues," the Brazil international said.

"When I signed my first contract here, it was to just do one year. Now it is already the fourth! I could not have imagined that, but really it is a very special moment for me to sign and stay at Chelsea."

Sources told ESPN earlier this week that positive talks had taken place and a deal was close to being agreed.

Although Chelsea have pursued a policy of signing younger players to long-term contracts, Silva's experience is viewed as a vital component of the squad's development under head coach Graham Potter.

Despite his veteran status, Silva has been a mainstay at the heart of Chelsea's defence, including during their run to the Champions League title in 2021.

Amid much change on and off the pitch, the former AC Milan and Fluminense man has started 18 of Chelsea's 21 Premier League matches this season. He was also part of the Brazil team that reached the quarterfinals of the 2022 World Cup.

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"We're delighted that Thiago has decided to continue with Chelsea," chairman Todd Boehly and co-controlling owner Behdad Eghbali said.

"He's a world-class talent, as he's proven over many years for club and country, and his experience, quality and leadership skills are vital to our vision going forward.

"We're thrilled he has extended his contract with us and we look forward to more success with him ahead!"