Coleman, 53, began his second spell in charge in 2014 and led them to fourth in League Two in 2015-16, missing automatic promotion on the final day.
Working with Bell, he managed Stanley from 1999 to 2012, guiding them to the Football League from the eighth tier.
"We achieved great things last season on the lowest budget in the league," Coleman told Stanley's club website.
"Everyone knows how Jimmy and I feel about Accrington Stanley and we are here to build for an exciting future."
Manager John Coleman and his assistant Jimmy Bell have signed new rolling two-year deals with Accrington Stanley.