The financial terms and length of contract were not disclosed in a press release sent by the team.
The Coyotes have a record of 156-96-42 and have qualified for the Stanley Cup Playoffs three times in Tippett's four seasons with team. Tippett has a record of 427-252-107 in 10 seasons as an NHL head coach.
"I am thrilled to stay with the Coyotes,” said Tippett. “Don has done a very good job of assembling a great staff and group of players here and I like the direction we are headed. We've started to build a strong foundation and we are both looking forward to continuing to build a winning team here in the Valley and taking the next step as a first class organization.”