Ware shared the news on Monday afternoon during a news conference at Valley Ranch, the Cowboys training facility.
"It's sorta like a dream, when you are young and you are playing the video games, you know you see Emmitt Smith and you see the Michael Irvins playing on the game and now you feel like you are part of that tradtion," said Ware.
The contract extension is a $78 million, six-year deal, which runs through 2015 and guarantees Ware $40 million.
"It's awesome to have this opportunity, to say this is my job, this is what I'm going to be doing for the rest of my life," said Ware.
Cowboys GM and owner Jerry Jones said he shook hands with Ware before the Cowboys win over the Falcons on Sunday afternoon.
"Usually Jerry don't come out on the field when we are stretching, he lets us go out and stretch," said Ware. "That should have been a red flag when he came over to me and starting distracting me and talking to me for a little bit, because usually I'm zone out, but didn't nobody notice"
Ware led the NFL with 20 sacks last season, and has 4 sacks in the last 2 games.