The 30-year-old's new deal will see him remain at the Stadio Artemio Franchi until summer 2017.
While claiming that he had offers to join other clubs, Rodriguez admits that it was an easy decision to stay with the Viola.
"I am delighted," he told their official website. "There were never any doubts from my part. I had other offers but as soon as I was told that Fiorentina still wanted me, I immediately accepted."
Rodriguez joined Fiorentina from Villarreal in 2012.