The 38-year-old has made 22 appearances so far this season for United, taking him to 898 overall games for the club.

During his career at Old Trafford, Giggs has won 12 Premier League titles, two Champions Leagues, four FA Cups and four League Cups. The former Wales international also won PFA Players' Player of the Year for his performances in the 2008-09 season.

"When I signed my first contract, I never thought I’d be able to play at United for 22 years, but I feel good and I know I can still contribute to keeping the team pushing for honours," he said.

"Winning the club's 19th title was a great feeling but this club is all about what we do next and I'm really pleased I can be part of that."

Sir Alex Ferguson also paid tribute to Giggs, claiming the midfielder has a strong influence over the development of the younger players at the club.

"Ryan is a marvellous player," Ferguson said. "In many ways, he epitomises all my teams here at United: he has constantly re-invented himself, adapted to the changing nature of the game and retained that desire and hunger for success.

"In every training session and match, he is the example for others to follow.

"The young players in the dressing room have a great chance to learn from a player who will continue to break records that anyone in the game will find hard to beat."

Meanwhile, Giggs challenged United to continue their dominance of English football and maintain their record league title haul ahead of Liverpool.

The Red Devils finally surpassed Liverpool's record last season after wrapping up their 19th title win and, with the clubs set to meet this weekend, Giggs believes the game is as important as ever.

"Liverpool are a club similar to us, with a massive history," Giggs said.

"We're the two most successful teams in the country, so we know we've got to perform and play well to get anything from any game against them.

"We know we're in for a tough game. It's the club we tried to catch for so long and now we've caught them the challenge is to stay ahead."

Much of the game's build-up has surrounded Luis Suarez's potential involvement as the Uruguayan is set to face United, and Patrice Evra, for the first time since being found guilty of racially abusing the French full-back.

After their derby clash on Saturday, United return to European action as they tackle Ajax in the Europa League and Giggs has called for focus as the club enter the business end of the campaign.

"We know it's a tough run of games but these are the games you want to be playing in," he said.

"We're not quite at the make-or-break part of the season, but it's an important time and we know that if we win these games then we'll be in good shape going into the run-in."