England left-back Ashley Cole has ended speculation about his immediate future by signing a one-year contract extension with Chelsea, the Premier League club announced on Tuesday.
His previous deal was due to expire at the end of the season and the 32-year-old had been linked with moves to either Real Madrid or Paris Saint-Germain in recent weeks.
However, Cole, who joined Chelsa from Arsenal in 2006, says he never had any intention of leaving Stamford Bridge.
"I am pleased I will be starting my eighth season at Chelsea," he told the club website.
"I wanted to stay at Chelsea because we are always fighting and challenging for trophies. That desire and the will to want to win things have not gone."
Confirmation of Cole's new deal arrives on the eve of Chelsea's League Cup semi-final second leg at Swansea City, where the European champions will bid to overturn a 2-0 deficit from the first leg.
Cole has made 293 appearances for Chelsea and scored seven goals since his controversial switch from London rivals Arsenal.
In his seven years at Stamford Bridge, he has won one Premier League title, four FA Cups, one League Cup and last season's Champions League.
"I have great memories here and I enjoy coming to training every day. The staff are amazing and I enjoy training with the lads," added Cole, who has represented England on 99 occasions.
"I have been able to fulfil nearly all my ambitions at Chelsea. I have won the Champions League, the league, I have won FA Cups here, but of course you don't want to stop winning trophies and being at a big club, you are always fighting to win a trophy.
"Being here for seven years and being at Arsenal before that, playing for trophies, you never lose that hunger."
Chelsea fans will now hope that, having allowed Cole to extend his contract, the club will grant the same courtesy to his England colleague Frank Lampard, who is expected to leave the club at the end of the season.