Cornes, 29, has played 205 games with the Power since debuting in 1999, including in the 2004 Premiership team.
Cornes was an All-Australian in 2004 and 2007, and also finished second in the Brownlow Medal in 2004.
Port Adelaide’s General Manager of Football Operations Peter Rohde says the club is delighted to have re-secured Chad’s signature.
“Chad is a champion of our club – one of our all time great players,” Rohde said.
“He is an important part of our leadership group, and is considered by many to be the barometer of our team.
“He is also incredibly versatile, able to play back, forward and on-ball. Every club would love to have a Chad Cornes – and we are fortunate to have secured him for a further two years.”
Cornes says he’s happy to have reached agreement and is set on being a one club player.
“I’m so happy to remain at Port Adelaide,” Cornes said.
“You don’t have to be an expert to work out we’ve got some great talent here at the club and we’re certainly heading in the right direction. To be part of that over the next couple of years is very exciting.
“Spending my career at the one club is something I’ll look back on at the end of my career and be very proud of, and to do it at a club like Port Adelaide is pretty special.
“I’ve been thinking about it over the last couple of weeks and I’m very thankful that the club and I have been able to reach an agreement early in the process.”