The new deal will ensure Stajcic will also oversee the national team through the upcoming Olympics in Rio de Janeiro, the 2019 Women's World Cup in France and the 2018 Women's Asian Cup which also serves as World Cup qualification.

The FFA board decided to hand Stajcic the long-term deal after the coach's performance at the 2015 World Cup in Canada where the Matildas reached the quarter finals having progressed from the group of death, their undefeated qualification campaign for the 2016 Olympics and their runners-up finish to the 2014 Asian Cup.

Further to their recent record is the change in team culture which FFA chief executive David Gallop says played a major role in the board's decision to keep Stajcic on board until the Tokyo games.

"They're genuine medal contenders and apart from playing well, there's an environment of professionalism and development that is setting us up for the future," Gallop said.

By then, Stajcic hopes to turn the team into one of the world's best instead of an emerging powerhouse.

"The biggest picture is for the team to have that stability and security to move forward and know that the journey we've undertaken is only part done," Stajcic said.

"We think we're medal contenders and gold medal contenders for the Olympics but by the team the next Olympics come around, we want to become the favourites."

While the retention of Stajcic coincides with significant off-field work in women's football - particularly at grassroots level - Fairfax Media understands the W-League season wil not be extended to a full 14 rounds next season. An eight team, 12-round model will be in place again with a greater emphasis on double-header fixtures with A-league games.

Meanwhile, Stajcic also announced the Matildas squad for their upcoming warm-up games against New Zealand. Australia will play two games against New Zealand on June 4 and June 7 in Ballarat and Melbourne respectively.

The June 7 fixture will be a curtain raiser to the Socceroos' friendly against Greece.

While omitted from the upcoming squad, Stajcic says star forward Sam Kerr still has a chance of making the final Olympics team if she can return to fitness in June. Kerr is on the comeback trail from a foot injury which she underwent surgery for.

"Sam Kerr had a minor bit of surgery two weeks ago and hopefully she'll be returning to playing in the next few weeks," Stajcic said. "Time is getting tight for her, but if everything goes well she'll definitely be in contention for one of the spots."

Matildas squad: Teigen Allen, Laura Alleway, Mackenzie Arnold (GK), Tameka Butt, Ellie Carpenter, Steph Catley, Caitlin Cooper, Larissa Crummer, Lisa De Vanna, Casey Dumont, Caitlin Foord, Katrina Gorry, Michelle Heyman, Elise Kellond-Knight, Alanna Kennedy, Chloe Logarzo, Clare Polkinghorne, Kyah Simon, Emily Van Egmond, Lydia Williams (GK).