Rossi is 16 points clear of Pedrosa in this year's championship
MotoGP championship leader Valentino Rossi has committed his future to Yamaha by signing a new two-year deal.
He joined the Japanese manufacturer in 2004 and two of his seven world titles - in MotoGP, 500cc, 250cc and 125cc - have come with the team.
Yamaha said the Italian would again be partnered by Jorge Lorenzo in 2009.
"After so many years spent in racing I needed a special motivation to take the decision to sign for two more years," said Rossi, 29.
"I had other opportunities but because of Yamaha's efforts to give me the best bike in the best environment, I have decided to stay with Yamaha for two more years."
Rossi leads this year's MotoGP championship by 16 points from Honda rider Dani Pedrosa, with Ducati's Casey Stoner four points behind the Spaniard in third.