Del Bosque has led his country to glory at the FIFA World Cup and UEFA European Championship since succeeding Luis Aragones in 2008.
Speaking at a press conference on Friday ahead of Spain's friendly with Equatorial Guinea, the 62-year-old revealed news of his new deal.
"I can confirm that I have signed with the Spanish team until 2016," Del Bosque said.
And the former Real Madrid coach admitted that, while his side had received a warm welcome in Equatorial Guinea, he was not expecting the match to be a walk in the park.
"The affection we received when we arrived was very nice, as it always is wherever we go," he continued.
"Guinea have a well organised team, one which likes to play out wide. I'm sure they'll make life difficult for us.
"We're looking for everyone to play. We hope that Javi Martinez's injury niggle doesn't stop him from playing.
"We have plenty of players in every position; we're well covered."