The head coach has signed improved terms at The Hawthorns after overseeing 10 victories from 13 matches in the Championship.
In late October the Spaniard signed a two-and-a-half year deal to last until summer 2025. His fresh contract ties the highly-rated to the Baggies until 2027.
The news comes as a monumental boost on the field for Albion.
Corberan has transformed the Baggies' on-pitch fortunes despite uncertainty off it since checking in as Steve Bruce's replacement.
Chief executive Ron Gourlay held talks with the head coach in recent weeks and feels both he and Corberan's vision for the future is aligned.
Gourlay said: “I am delighted Carlos has extended his contract at the football club. I have always been impressed by Carlos and my admiration of him as a coach has only grown since he arrived here.
“His passion for the game we all love has been infectious for all connected with the club, not least our players, who have clearly benefitted from Carlos’ first-class coaching, tactical knowhow, and attention to detail.
“We sat down three weeks ago to discuss the future of the club and Carlos’ vision for Albion is absolutely aligned with my own. Together we are determined to continue taking the club forwards.”
Corberan instantly became a massive hit with The Hawthorns faithful, who have sang the name of the boss from the early weeks of his tenure.
Such has been his influence, the 39-year-old has already been linked with top jobs at Premier League clubs West Ham, Everton and, most recently, his former club Leeds United.
Corberan was early bookmakers' favourite to succeed Jesse Marsch at Elland Road, where he previously worked as youth boss and first-team coach under Marcelo Bielsa.
He said upon penning fresh terms: “I have enjoyed my time at Albion, and I am pleased to have secured a contract extension.
"I would like to thank my staff, the players, and our fantastic supporters for their help in making my time here so positive.
“I would also like to thank Ron Gourlay for continuing to show faith in me as a coach.
"I believe that success can only be achieved when everyone works together and the way I have been made to feel welcome at this great club has made me confident that this is the right place for me.
“It is important to me that we do not let this moment distract us from our target, which is to ensure we improve every day, making the team more and more competitive for the challenges ahead. My focus is always on earning a positive result in our next game and we are working hard to achieve that at Birmingham City on Friday night.”