The club are said to have been thoroughly impressed with both his performance in the World Cup and his performance last season with Rovers. He is credited for helping the Ewood side avoid relegation last season, as well as earning them a Worthington Cup win.
Friedel's new deal will keep him with Graeme Souness's side until the summer of 2006, by which time he will be 36 years of age. Souness is said to be delighted to have Friedel for the next four seasons.
In an interview with the club's official website, Souness said: "I had worked with Brad before and I knew right from signing he was right for this club.
"Rovers fans have known for some time how influential and capable he is, but I've known for years.
"His performances last year were exceptional and his World Cup displays were outstanding.
"But I wasn't surprised a bit. He is very important to our squad and our plans, it's good news all round."
Rovers chief exec. Mr. John Williams added: "Brad's status amongst the goal-keeping fraternity is beyond question.
"We are all absolutely delighted he has agreed a new long-term contract."
Friedel himself also appears to be happy with the news... "I've enjoyed my time at Rovers...
"We agreed on a new deal before the World Cup because I didn't want this hanging over my head."