(CNN) -- Spain's Jorge Lorenzo has signed a 12-month contract extension to remain with Yamaha.
Lorenzo has decided to remain with Yamaha next season despite interest from other teams.
Lorenzo is currently second in the 2009 MotoGP standings and Yamaha Motor Racing managing director Lin Jarvis is thrilled to have secured his services for another year.
"We are obviously delighted that Jorge has decided to stay at Yamaha for the next season and we hope that he will remain at Yamaha for many years to come," he told Press Association Sport.
"Jorge has shown his talent, his ability to learn and to compete at the highest level with many excellent performances in 2008 and 2009.
"We have no doubt that he has the ability and drive to become MotoGP world champion and we are proud that he has decided to remain with Yamaha, despite having received some very serious approaches from some of our competitors."
Lorenzo added: "It was a very important decision and that's why I have had to take the last few weeks to make it, but I think that this is the best decision for me at this moment."