The Saudi Arabian Football Federation announced the extension, which will see Pizzi in charge till the end of the AFC Asian Cup UAE 2019, on Tuesday.
Saudi Arabia snatched a late 2-1 victory over Egypt in their final 2018 FIFA World Cup Russia Group A match on Monday.
It was a remarkable end for the West Asians as they rebounded strongly after suffering a 5-0 defeat to Russia in their opening match.
That was followed by a steely performance against Uruguay, which Saudi Arabia were unlucky to lose 1-0.
Pizzi, a former Spain striker, was appointed Saudi Arabia head coach in November 2017.
Saudi Arabia are in Group E of the AFC Asian Cup UAE 2019 with Qatar, Lebanon and DPR Korea. The tournament is on January 5-February 1.
| The Saudi Arabian Football Federation extends the Saudi national team manager Juan Pizzi’s contract until the end of the Asian Cup tournament. pic.twitter.com/qHFtzNWiUe
— Saudi National Team (@SaudiNT_EN) June 26, 2018