The school said Hudspeth will receive a $950,000 base salary each year, which still needs approval.
In three seasons at the school, Hudspeth has a record of 27-12, winning nine games each season. Last season, the Ragin’ Cajuns won the New Orleans Bowl, marking their third straight victory in that bowl game.
"I'm very appreciative to Dr. (Joseph) Savoie, Scott Farmer and the Board of Supervisors for putting their trust in myself and our coaching staff," Hudspeth said. "I'm very pleased with the contract. It's good for both parties. This adds a lot of stability to our program in terms of recruiting and fans will see that both parties are committed to a common goal – and that is continuing to build our football program one day at a time.
"This also says that we're ready to take the next step in becoming a major program. I'm proud to be a part of our university and I'm proud to be the head coach of the Ragin' Cajuns."
Before landing at Lafayette, Hudspeth spent seven seasons at Division II school North Alabama, compiling a 66–21 record and taking his team to the playoffs five times.