Disney Chair Mark Parker said Iger -- who returned to the corner office in November 2022 -- had "once again set Disney on the right strategic path" and that the extra time would "allow ample time to position a new CEO for long-term success."
Iger, 72, won raves for his original tenure atop the California company from 2005 to 2020 before handing the reins to hand-picked successor Bob Chapek.
But Chapek suffered a number of stumbles as CEO, resulting in an abrupt shakeup late last year.
Under Iger's leadership, Disney acquired Pixar, Marvel, Lucasfilm and 21st Century Fox. It also opened its first theme park in China -- the Shanghai Disney Resort -- and launched the Disney+ and ESPN+ streaming services.
The extension comes amid intensifying pressures in the video streaming business. Disney's service, Disney Plus, has seen subscriptions fall for the last two quarters.
Other challenges include a protracted writers' strike in Hollywood that has halted major Disney productions.
For an optimal experience, please
