Revell, who has netted six times in 44 games this season, revealed that he was "delighted" to further his stay at the Millers.
"I'm delighted to get the chance to stay at the club for another two years," Revell told the club's official website.
"It was a no-brainer due to what's happening at the club with it being an exciting time.
"I've had great support while I've been here and I'm obviously delighted to get the chance to extend my stay here."
Rotherham are currently in an automatic promotion spott in League Two.