The 36-year-old Reis has been New England's starting goalie - when healthy - since 2004. A four-time Major League Soccer all-star, Reis holds nearly every goalkeeping record in club history.
Reis started 27 games last year and had five shutouts, although the Revolution finished tied with expansion Vancouver Whitecaps FC for the worst record. He was the only goalie in the league to average more than four saves per game.
"Matt has been one of our leaders, on and off the field, since coming to New England, and we're pleased he will remain with us," Revolution general manager Michael Burns said.
"With him re-signing with us, we can continue to look toward his leadership and experience as we move into 2012."
Per club policy, further terms of the contract will not be released.