"Coach Lubick and his staff and players have moved our football program into national prominence with hard work, dedication and diligence," athletic director Tim Weiser said in a statement.
Entering the Liberty Bowl against Southern Mississippi on Friday in Memphis, Tenn., Lubick had a 57-26 overall record. A three-time Western Athletic Conference coach of the year, he has taken Colorado State to four bowl games.
The team went 8-3 this season and shared the championship of the Mountain West Conference, created this year by eight schools that left the WAC.
The contract extension will take Lubick through the 2005 season.