The 49-year-old will celebrate 10 years with the Chairboys in September and has taken them to their highest point in the Football League with promotion to the Championship in 2020.
Wycombe were relegated a year later but Ainsworth guided them to the League One play-off final last season where they were beaten by Sunderland.
Speaking to the club’s website, Ainsworth said: “The club have supported me through thick and thin, right from the start, and I’ve made my decision to extend my contract here by another year.
“It’s something I wanted to do. The vision here going forward is something I want to buy into and hopefully we can make this club a super success.
“We’re trying to improve the stadium with Championship standard facilities, we want to improve the access, and of course we want to make the football Championship standard.
“There’s forward momentum here, propelling the club to the next level, and I want to be part of that. I’m really happy here.”
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