The 34-year-old, who has played for Everton and Manchester City, moved to the Championship outfit in July last year on a free transfer from Aston Villa.
"I am delighted," Dunne told the media. "After missing a year through injury, to come back and play so many games is great.
"The aim from the start of this season was to win promotion to the Premier League and that remains the case. If we can kick on now and finish on a high, that would be the ultimate end to the season."
QPR are currently third in the league table, nine points behind an automatic promotion spot.