Rangel, who recently hit the headlines after he and his wife spent time helping to feed Swansea's homeless, is the latest in a string of players to pen new deals at the club.
Michu, Wayne Routledge, Leon Britton, Garry Monk, Ben Davies and Ashley Williams have been among those to commit themselves to Swansea.
The club are enjoying arguably the finest season in their 101-year history. They currently lie eighth in the Premier League table and claimed their first major honour after beating Bradford in the Capital One Cup final last month.
Success at Wembley has set up a Europa League campaign next term, and Rangel admits it was easy to agree to extend his stay.
He said: "It shows how well things are going here that so many of the squad have signed new contracts. The club realises the players are doing a great job and the board and chairman are rewarding us for that. We are getting better and better as a club again this season and everyone here is keen to play their part in helping Swansea City grow."