Frazier helped engineer a seven-win improvement for the Vikings, guiding the squad from a 3-13 record in 2011 -- his first full year on the sidelines -- to 10-6 and a surprise playoff berth in the recently completed 2012 campaign.
The turnaround was best one-year improvement in team history.
"Coach Frazier has done a remarkable job in building a strong foundation for the Minnesota Vikings and creating a very positive future," Vikings Owner-President Mark Wilf said. "We value his leadership and look forward to working with him for many years to come."
The 53-year-old coach has posted a 16-22 overall mark while leading the Vikings.