Feagles was 41 years, 333 days old when he played in the Giants' 17-14 upset of the New England Patriots in Super Bowl XLII earlier this month. The 2008 season will be his 21st in the NFL.
"I still have some years left in me and I think I proved it this year," Feagles said in the Giants Web site. "And I just love being on this team now. I can't say enough about the organization, either."
Feagles is the NFL career leader in punts (1,585), punt yardage (65,793) and punts downed inside the 20 (508). He has played in an NFL record 320 games, appearing in every game since he was joined the Patriots as an undrafted free agent in 1988.
In addition to the Giants and Patriots, Feagles has kicked for Philadelphia, Arizona and Seattle.
He was set to be inducted Wednesday into the University of Miami Sports Hall of Fame.