Marcelo has agreed a contract extension with Real Madrid until the end of the 2021-22 season.
The 29-year-old full-back has been at Madrid since 2006, having joined the Spanish club from Fluminese.
A Brazil international, he has made 406 appearances for Madrid, scoring 28 goals.
During his time with the club, he has won the Champions League three times, La Liga four times and the Copa del Rey and Fifa Club World Cup twice.
He is suspended for Madrid's next two La Liga games after his ban for being sent off for a kick at Jefferson Lerma in Saturday's 1-1 draw at home to Levante was confirmed on Wednesday.
The left-back will be absent for Sunday's trip to Real Sociedad and the visit of Real Betis on 20 September.