The 28-year-old midfielder announced the agreement before Sunday’s league clash with Paris Saint-Germain.
Magnetti began his career in the youth systems of Olympique de Marseille, Burel and SC Bastia before joining Brest in 2017, initially playing for the reserve side.
He became a regular first-team player a year later and has since made more than 200 appearances, scoring six goals and providing seven assists.
The midfielder is now Brest’s vice-captain and played a key role during their Champions League campaign two seasons ago.
Magnetti started 31 of his 33 Ligue 1 matches last season, scoring once and assisting twice, and has started two of three games this term.
