Herring's provincial form has been rewarded with multiple call ups to Ireland squads and he made his international bow in June 2014 after coming off the bench in an end-of-season tour match against Argentina. He was included in Ireland's extended squad ahead of the 2015 Rugby World Cup campaign.
He was appointed as Ulster captain during the recent World Cup, highlighting his importance to the Province.
Commenting on the contract renewal, Herring said:
"I'm very happy to be staying. The last three years have gone really quickly for me and I've enjoyed every minute of it. It's particularly enjoyable playing at Kingspan Stadium in front of our home crowd - you can't ask for a better stadium to play at.
"Captaining Ulster while Rory was away at the World Cup was massive highlight for me and it was a proud moment that I'll remember forever.
"I've really enjoyed my time at Ulster over the past three seasons. It's a top side in Europe and in the PRO12 and we're always pushing to win competitions, so it's a great place for me to be."
Ulster's Director of Rugby, Les Kiss, added:
"I'm delighted that Rob has agreed to remain with us for a further two seasons. He is highly regarded by his peers and he has developed into one of the key leaders within our group. He's still relatively young for a front row player and will develop even more, but to have 79 caps for Ulster at the age of 25 is testament to his quality.
"Our Operations Director, Bryn Cunningham, has done a great job in securing Rob's services, along with the recent contract renewals of Craig Gilroy and Rory Best. When you factor in that a player of the quality of Charles Piutau is arriving with us next season, it's all very promising for the future."
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