McDyess, whose career once was in doubt because of knee operations, played in a career-high 82 games in each of the last two seasons. He has one season remaining on his current deal.

"I'm excited to have worked out a contract extension with the Pistons," McDyess said in a statement. "We have enjoyed a lot of success as a team since I came to Detroit three years ago and I look forward to the upcoming season and making another run at an NBA championship."

The 32-year-old McDyess averaged 8.1 points — making 53 percent of his shots — six rebounds and 21 minutes a game last season, finishing sixth in voting for the Sixth Man of the Year.

"We are pleased to have reached an agreement that will keep Antonio McDyess here as an important veteran leader on this team," Pistons president of basketball operations Joe Dumars said in a statement. "Antonio has been a major part of our success over the last three years and we look forward to his continued solid play in the future."

After he won an Olympic gold medal in 2000 and played in the All-Star game in 2001, knee injuries limited McDyess to just 52 games over three seasons before coming to Detroit in 2004 after the Pistons won the NBA title.

McDyess previously has said he told his agent, Andy Miller, twice that he wanted to retire because he was frustrated while rehabbing his knee in New York and Phoenix. But Miller didn't act on his client's wishes, and it proved to be a wise move.

McDyess averaged 9.6 points and 6.3 rebounds in 77 games during the 2004-05 season, helping the Pistons reach the NBA finals again, and was one of the players who helped them have the best record in the Eastern Conference and reach the conference finals the next two seasons.