The 30-year-old Holland winger's new deal ties him to the German giants until June 30, 2017.
Robben joined Bayern from Real Madrid in 2009 and has helped the club win eight trophies during his time at the Allianz Arena, including last season's historic treble of Bundesliga, Champions League and DFB-Pokal.
The former Chelsea and PSV Eindhoven forward, who scored an 89th-minute winner in last May's Champions League final against Borussia Dortmund, said on his club's website: "I'm delighted we've now signed the new contract and I'll continue pursuing trophies with Bayern.
"I'm now in my fifth season in Munich and there will be three more after this. There can be no better indication of how happy my family and I feel to be here and how much I enjoy playing for this club and with this team. I'm looking forward to the years ahead - and to plenty more trophies with Bayern."
Bayern Munich chairman Karl-Heinz Rummenigge added: "We're extremely pleased Arjen has extended his contract with us until 2017.
"Arjen is a magnificent player. He's proved his worth to Bayern and not just in the Champions League final at Wembley. Arjen is a fundamentally important member of the team and will now remain so for the years to come.