33-year old Minichiello, who has represented Italy on the international stage, joined the Airlie Birds ahead of the 2015 season after stints with NRL clubs South Sydney Rabbitohs and Gold Coast Titans.
Making 27 Super League appearances last year and scoring seven tries, he swept the board at the club’s Player of the Year awards picking up the Supporters’ Player of the Year, Players’ Player of the Year and sharing the Player of the Year with Liam teammate Watts.
“I’m pleased to get it all sealed off and I’m really excited about the next couple of years with Hull,” Minichiello said.
“It wasn’t a hard decision at all. I sat down with my family and we all agreed we wanted to stay here.
“We’re really settled here now and I believe the club has a big future that I want to be a part of.
“I want to win a trophy and I think we have a side here that can do that.
“Hopefully we can play some good consistent football, get in the top four and then you never know what can happen.”
Black and Whites head coach Lee Radford said handing the Australian a new deal was an easy decision.
“It was a no-brainer on our part,” Radford said.
“The form he showed last year was fantastic and hopefully he’ll better that in 2016.
“Last season, he was often on the field in games for longer minutes than what we would have liked but we didn’t feel we had sufficient replacements on the bench on one or two occasions.
“That won’t be the case this time around. He’s got some great back-rowers with him now and that also means he’ll have to perform.
“He’ll benefit from having the new boys in the squad.
“Mini adds to us massively off the field with his professionalism. It’s second to none.
“He’s meticulous with his preparation for games and for our younger players, he is someone to look up to and learn from.
“He’s now more comfortable amongst the group and has great leadership qualities. Hopefully now they’ll come to fruition.”