Terms of the deal or its length were not disclosed. Lauer, a fixture on "Today" and for NBC's news division for the past 20 years, is considered one of the highest-paid journalists in TV news at a previously reported $25 million.
"I consider this the best job in broadcasting," Lauer, 56, said in a statement. "I love people I work with every day, and I have such respect and gratitude for the people I work for. I couldn't be happier to be staying."
"Today" has been chipping away at the lead of ABC's "Good Morning America" recently after surrendering its two-decade ratings crown in 2012 following unfavorable publicity around the departure of Lauer's former co-host Ann Curry.