Paddy Wallace has signed a new-one year deal with Ulster.
The centre is Ulster's longest-serving player, having made his senior debut back in 2001 and he has played 188 times, scoring 439 points.
Wallace said: 'I am delighted to have agreed a new deal and I look forward to recovering from injury and playing next season.
"This Ulster squad is the strongest that I have been involved in and I have no doubt that we will be competing for silverware next year. I want to be a part of that and to hopefully to become the first player to make 200 appearances for the Province."
Ulster director of rugby David Humphreys said: 'Paddy Wallace has unrivalled experience and knowledge of the game. It was important for us to keep him, not just for his playing ability, but also for the significant role that he fulfills in mentoring the young players that we have coming through.
Meanwhile back-row forward Mike McComish has signed a two-year contract extension that will see him remain at the club until 2015.
And former Ulster players James McKinney and David McIlwaine have agreed contracts to return to Ulster.
McKinney has spent this season playing for Rotherham Titans whilst McIlwaine, 23, has spent this season at Bristol.
Humpreys said: "Mike McComish has shown a remarkable level of consistency this season and James and David will come back to us having benefitted considerably from their time in England.
"It is now more important than ever to have a strong panel of players to be able to compete in both the league and Europe. These four players will add considerably to our strength in depth for next season."