The Swansea-based region have announced a two-year deal for Bevington, who has won 13 caps.
The 25-year-old made his Ospreys debut in 2008 and has now clocked up 97 appearances for them.
" For myself, there was no other option to consider," Bevington said.
"I wanted to stay here as it's the environment that I think is best for me and my long-term ambitions.
"We are ambitious and we want to do well as a team, and I think that with the young group of players we have here we can grow as a team over the next few years."
Bevington joins the likes of Alun-Wyn Jones, Ashley Beck and Eli Walker in agreeing fresh terms at the Ospreys, while new signings for next season include the likes of Worcester centre Josh Matavesi and Newport Gwent Dragons back Dan Evans.
Bevington recently returned to the Ospreys from Wales' RBS 6 Nations squad after suffering a groin injury.