Melbourne Victory captain Carl Valeri has signed a one-year contract extension to remain at the club until at least the end of the 2017/18 season.

The 32-year-old is currently in his third season at Victory after spending a decade playing in Italy.

He took over the captaincy of the club at the start of the 2015/16 season, after being part of Victory's 2014/15 Premiership and Championship-winning squad.

"It has been a privilege to represent Melbourne Victory and I'm thrilled to extend my contract for another season," Valeri said.

"This is a great club with a proud history, and it's an honour to be captain of a playing group which is hungry for success.

"I look forward to leading the team through the rest of the current season and beyond."

Valeri made 29 appearances and scored two goals in his first Hyundai A-League season at the club, which included starting in the Grand Final win over Sydney FC.

The following season he was restricted to just seven games after suffering inflammation of the brain, but he has returned strongly this campaign, so far missing just two games due to a hamstring injury.

Valeri has made 68 appearances for Victory in total – 56 in the Hyundai A-League, eight in the Westfield FFA Cup and four in the AFC Champions League.

"Carl has been a terrific leader on and off the pitch for Melbourne Victory, and we're excited to extend his contract," said Victory head coach Kevin Muscat.

"Carl leads by example, demands excellence and has been an asset to this football club over the last three seasons.

"He brings composure and a winning attitude to the playing group, is a great role model and his thirst for success is infectious.

"This is a great outcome for the club and the playing group as we head into an important part of our season."