Buxton, 28, who joined from Mansfield Town in 2009, had a year to run on his deal but has agreed new terms which include the option of a further season.
Manager Nigel Clough told the club website: "His all-round game has improved since he joined.
"He has an unbelievable desire to get his head on the ball in both penalty areas, he's just our kind of player."
Buxton has scored five goals in 27 games this season despite missing around two months with a knee injury.
Derby County centre-half Jake Buxton has extended his contract with the club until the summer of 2015.