The 28-year-old, who has started all six of the Magpies' Premier League fixtures this season, revealed that he had "no hesitation" in signing the deal.
"I've said many times that I love playing for Newcastle," he told the club's official website. "I love the city, the fans and the team.
"So I had no hesitation in signing a new contract. It has been a good start to the season and this is a great place to be.
"I am proud that the manager and the board see me as part of the long-term future of Newcastle. I have always given my best here and I will always do that."
Gutierrez joined Newcastle in 2008 from Real Mallorca.