The 28-year-old, who has spent six-and-a-half years at Franklin's Gardens, has claimed that he is "excited" about what the future holds for the club.
"I've obviously been here for a while," Myler told the club's official website. "I love the club, love the supporters and it's a great group of lads.
"We've achieved a lot together already and I'm genuinely excited about where the team is going. We've shown a lot of ambition with the calibre of players that will be joining the club next season."
Myler, who has racked up 1,427 points during his stint at Northampton, has made 187 first-team appearances.