Terms were not disclosed by the team, but multiple reports said it was a two-year deal.
"Kayla has proven to be such an integral part of the Lynx since her arrival in 2021. Her play this season, coupled with her leadership, has been vital to the Lynx returning to playoff basketball," Lynx coach and president of basketball operations Cheryl Reeve said in a statement. "We look forward to KMac wearing the Lynx uniform for years to come."
McBride, 31, has averaged 13.9 points, 3.2 rebounds, 2.2 assists and 1.3 steals in 36 games this season.
"I couldn't be more excited to continue my career with this franchise and elevate the success we've seen, especially throughout this season," McBride said in a statement. "Minnesota is a special place with some of the greatest fans in the WNBA, so I feel so fortunate to be part of what we're growing here."
A three-time All-Star, McBride has averaged 14.3 points, 3.4 rebounds and 2.3 assists in 294 career games with the San Antonio Stars (2014-17), Las Vegas Aces (2018-20) and Lynx.
The Lynx have clinched a playoff berth this season after missing the postseason in 2022. They enter their final two regular-season games in fifth place in the WNBA standings.
Reuters contributed to this report.