Rodrigo, who has continually improved since joining City in the summer of 2019, has made 151 appearances in his three seasons at the Etihad and has 33 international caps for Spain.
He says he has loved his time at City and feels it is the best place for him to continue developing his game.
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“Joining City in 2019 is the best decision I have made in my career,” Rodrigo said. “I have loved every second. The fans have been amazing with me, I feel totally supported by the Club and the manager pushes me every single day.
“I have improved so much as a player, and I want to thank Pep and all the backroom staff for their help. They are completely committed to helping me become the best player I can be, and I appreciate their hard work.
“We have been very successful since I came here, which is something that makes me very proud. But to be honest, that success has made me even more hungry for me. Once you start winning big titles, you don’t want to stop.
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“City, I feel, offers me the best chance of winning trophies and that’s why I am so pleased to be staying here for longer,” Rodrigo added.