In keeping with club policy, financial terms were not announced.
The 6-foot-1, 307-pound Shipley has played in 44 games, including 35 starts, for the Cardinals over the last three seasons since signing with the team as a free agent in 2015.
Shipley, 32, started all 16 games for Arizona in each of the last two seasons, but will miss this season because of a torn right ACL sustained at the start of training camp.
In a Twitter posting Friday, Shipley offered his gratitude for the Cardinals signing him to an extension despite the injury.
“I can’t say enough good things about the AZCardinals organization,” wrote Shipley. “I just want to say thank you to the Bidwill family, Steve Keim, Coach Steve Wilks and the entire Cardinals organization for giving me an opportunity to continue playing the game that I love.”
In his nine-year NFL career, Shipley has played in 89 games (54 starts) after entering the league with the Pittsburgh Steelers as a seventh-round selection (226th overall) in the 2009 draft out of Penn State.
Shipley spent first two seasons on the practice squads of the Steelers (2009) and Philadelphia Eagles the next year before signing with the Indianapolis Colts in 2012. He was with the Baltimore Ravens the next year before returning to the Colts in 2014.
He joined the Cardinals in 2015.
At Penn State, Shipley was Big Ten Lineman of the Year, an All-Big Ten and All-American selection and winner of the Rimington Trophy as a senior in 2008, when the Nittany Lions captured the Big Ten title.