Although the club haven’t specified how long the Blackpool legend will remain at Holker Street for, the manager won’t be going anywhere anytime soon.
The news softened the blow of Saturday’s FA Cup defeat at the hands of Solihull Moors.
Evatt, linked with various jobs this year, told the club’s website it was an easy decision.
“I’ve said many times that we are on a journey at this football club and me and my staff, as well as all of the players, are really looking forward to continuing that journey,” he said.
”The lads have shown what they are capable of so far this season and we all believe we are on the cusp of something with this group.
”I have to say a big thank you to the supporters for all of their support, both this week and since I arrived, we need them to come out in their numbers now to get behind the team and play their part in what will hopefully be a very successful season.”
Chairman Paul Hornby said: “The new deal is recognition of the incredible hard work he’s put in over the last 15 months and gives the club even greater security if clubs come knocking.
”Hopefully now this will put to bed all the speculation which has surrounded the club in the last few days and we can look forward to a football game.”