Perez, who first held the position in 2000, won uncontested, the Spanish and European champion announced on Monday.
The 70-year-old has overseen a period of continued success at Madrid, which claimed its third UEFA Champions League in four seasons in 2016-2017.
Zinedine Zidane's men also clinched LaLiga for the first time since 2012.
Having brought in the era of the Galacticos in Madrid, Perez and the club could continue that approach by adding Monaco star Kylian Mbappe this off-season.
However, speculation over the future of Cristiano Ronaldo continues to intensify, with reports the star wants to leave Spain.