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The 34-year-old New Zealand native arrived in Galway in 2014 and made his Ireland debut against South Africa in 2017 upon the completion of a thee-year residency period.
He has won 60 caps and has made a 142 appearances for Connacht.
"I love playing rugby in Ireland and believe that this is the right environment for me to progress as a player," said Aki.
"I would like to thank the IRFU for their support and I'm excited for what the future holds in green in the years ahead."
IRFU performance director, David Humphreys feels Aki still "has a lot more to offer" in the coming years.
"Bundee has displayed a consistently high level of performance for club and country in recent years and we are delighted to extend his deal," he said.
"We believe that Bundee has a lot more to offer on the field and has a big role in helping to develop the next batch of exciting youngsters out west in Connacht and within the wider Ireland panel."
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