In a statement on the club's website, PSG revealed the deal includes the option for an extra season.
Di Maria, who turned 33 last month, joined PSG from Manchester United in 2015 having previously starred for Real Madrid. He has also played for Benfica and Rosario Central.
PSG's main focus is on extending the contracts of superstar forwards Kylian Mbappe and Neymar, both of whom will see their existing deals expire at the end of next season.
The Qatar-owned club this week ousted Barcelona to qualify for the quarter-finals of the UEFA Champions League, while it currently sits second in Ligue 1, two points behind leader Lille.