Bradley Smith has re-signed with Monster Yamaha Tech 3 for the 2015 MotoGP season.

The Englishman's seat had been under threat due to his ninth place in the world championship, but Smith has now secured the coveted satellite M1 ride for a third year.

Smith spent two seasons with the French team in Moto2 before moving to MotoGP alongside Cal Crutchlow last season.

"It's difficult to explain exactly how I feel right now but I am just overly thankful to Yamaha and Herve as well as the whole Monster Yamaha Tech3 team for believing in me and enabling me to continue riding here for another year," said Smith, who began the season with a debut front row start in Qatar.

"I really do love working with this team plus the Yamaha YZR-M1 and it's crazy to think that this well be our fifth year together although it still feels like the second! There's been a lot of emotion in re-signing so I'm really happy with the end result and that everything is finally sorted. Also, it's positive mentally to have next year clear whilst going into the second half of this season."

Smith has taken a best race finish of fifth this season, one position higher than in his rookie MotoGP campaign, but knows more is expected.

"For me personally, it's now time to start achieving and performing at my full potential, which I don't believe we have seen yet. I know that with this team they can support me to get where I am capable of being and beyond plus furthermore, get the results that I need not only for myself, but for the sponsors and everyone involved in this elite operation."

Smith is set to remain alongside Pol Espargaro. The reigning Moto2 champion is in the first year or a two-year contract directly with Yamaha and currently sixth in the standings.

"Riding with Pol is great fun as it creates a strong atmosphere in the team and together we are very competitive which aids us in pushing as well as motivating each other in every session," said Smith.

"For Pol and I to finish 5th and 6th [at Indianapolis] is back where Monster Yamaha Tech 3 deserves to be and everyone can expect more of the same in the next 18 months. I am very happy and look forward to the rest of the season as well being very excited for 2015."

Team manager Herve Poncharal had suggested the only other candidates for the ride would be young stars from Moto2 or Moto3. However both Tech 3 and Yamaha ultimately agreed that 23-year-old Smith was the 'best choice' for 2015.

"I am very pleased to announce that Bradley Smith will remain with the Monster Yamaha Tech3 team for one more year. We know each other well plus he is part of the family so this will be the fifth year of us working together and he will be the second longest serving Tech3 rider behind Olivier Jacque," said Poncharal.

"This year has not been easy for him so far due to the high expectations after the winter test and the first race in Qatar. But he never gave up, so together with Yamaha and Tech3 we believe he is the best choice of rider for 2015. I believe that him and Pol are getting on really well together and will push each other the strong results.

"I am very happy to welcome Bradley back for one more year and I hope this agreement will not only help him to finish the second half of the year in a more relaxed state of mind, but also make things exciting for the MotoGP fans watching him."