Terms of the contract were not released by the club.
Ventura, 46, has gone 148-176 in two seasons with the White Sox after being hired as the 39th manager in franchise history on October 6, 2011.
"We are in complete agreement with the direction and vision for this organization in 2014 and beyond," said Rick Hahn, White Sox senior vice president/general manager. "I have great confidence that Robin's leadership and direction will help us reach our goals, and there was never really any question in our minds as to who we wanted in the White Sox dugout now and into the future."
Ventura spent 16 major-league seasons with the White Sox (1989-98), New York Mets (1999-2001), New York Yankees (2002-03) and Los Angeles Dodgers (2003-04), hitting .267 (1,885-7,064) with 294 home runs and 1,182 RBI in 2,079 games.