12:05PM BST 08 Aug 2011
The 24-year-old, who fought off the challenge of Shay Given to establish himself as first choice, told the club's website: "I'm absolutely delighted to have signed a new deal and it is a very exciting time to be a Manchester City player.
"I can't think of myself being anywhere other than City and it really feels like home. I feel very privileged to be staying here for another five years.
"I've got a lot of love for this club, the way we're moving forward and for the fans who have been fantastic towards me from day one."
Hart joined City from Shrewsbury for £600,000 in 2006 and has also taken over the position as England first-choice goalkeeper.
He set a new club record for clean sheets last season, and has paid tribute to Given's influence - the Republic of Ireland stopper has now moved to Aston Villa.