The 38-year-old has had a couple of eventful summers having come close to leaving Green Bay last year after a growing unrest between the star QB and team officials.
Rodgers responded by producing yet another stellar season as he won back-to-back MVP awards thanks to 37 touchdown passes and just four interceptions.
The Packers again came unstuck in the playoffs though, losing to the San Francisco 49ers in the Divisional Round having fallen just one game short of the Super Bowl in the previous two seasons.
Rodgers was again considering his future, which included possible retirement or requesting a move to another team, but he's made the decision to remain at Lambeau Field in search of a second Super Bowl success.
It's been widely reported that Rodgers will sign a $200million four-year contract that will make him the highest paid NFL player ever in terms of annual salary.
Rodgers confirmed he was staying in Green Bay but denied that this record new contract had been signed when he took to Twitter.
When he does sign a new contract, Rodgers will have his deal restructured in a way that will drop the pay-out he receives for this year to enable the Packers to stay under the salary cap and bring in reinforcements.
It will also help Green Bay to keep hold of their other star players, including wide receiver Davante Adams who was given the franchise tag directly after the Rodgers news broke.
Why Aaron Rodgers is staying in Green Bay
Rodgers, who is now far more involved in the decision-making process at Green Bay, would not have agreed to stay unless he was given guarantees that the team would be built again with a Super Bowl run in mind.
Although possible moves to the Tennessee Titans and Denver Broncos were mooted, four-time MVP Rodgers has decided his best chance of a Super Bowl remains with Matt LeFleur's side.
The head coach and Rodgers have combined to earn 13 wins in each of the last three seasons as one of the most consistent performers in the NFL.
Those 39 wins though are the most a team has managed in a three-season span without making the Super Bowl, and taking that final step remains the issue.
A big part of Rodgers' thinking may have been the huge disparity in the quality of quarterbacks in the NFC that Green Bay play in as opposed to the AFC, where he would've likely been traded to avoid going to a direct rival.
It includes Denver, where his former offensive coordinator Nathaniel Hackett joining the Broncos as head coach but where the team plays in the AFC West against the Kansas City Chiefs, Los Angeles Chargers and Las Vegas Raiders and could just be the toughest in the league.
The Broncos had been actively chasing Rodgers, and they immediately responded to the news by launching a blockbuster trade deal for Seattle Seahawks quarterback Russell Wilson.