Martinez, still only 40, is regarded as one of the brightest young managers in football having worked wonders with Wigan Athletic before moving to Everton as David Moyes' replacement last summer, after the Scot left for Manchester United. Whilst the Spaniard was highly rated, few could've expected he phenomenal season Everton had.
The development of young players such as John Stones, Seamus Coleman and Ross Barkley is largely down to Martinez's influence, whilst he also got the most out of loan signings Gareth Barry, Gerard Deulofeu and Romelu Lukaku, leading the Toffees to a fifth place finish and their highest points total in Premier League history.
There has been speculation that Martinez is eyed up for the jobs at North London rivals Arsenal and Tottenham, and whilst Mauricio Pochettino is the new man at White Hart Lane, many still believes Martinez could replace Arsene Wenger at Arsenal one day - prompting Everton to hand Martinez a new five-year deal to keep him at Goodison Park, and he couldn't be happier.
"I am delighted to have been given the opportunity to make a further commitment to Everton," said Martinez. "I loved my first season at the Club. I could not be more proud of the way Everton performed throughout the entire season and the memories we were able to make together."
"I am really excited about next season," he added. "I knew from the moment I arrived at Everton that this was a special place and I’d like to thank everyone associated with the Club, the board, all the staff, the players and our brilliant supporters for believing in me and giving me the opportunity to build on the traditions and success of this great Club."
It may be seen as a gamble from Everton to already extend Martinez's contract, but based on his first season in charge, he will continue to impress on Merseyside - so keeping him at the club for the long-term is a great move by chairman Bill Kenwright.