The 34-year-old Icelander was linked with Rangers and Celtic whilst it has been revealed that Hermann also shunned Championship side Middlesbrough to remain at Fratton Park.
He told Morgunbladid: "Me signing with Portsmouth was always going to happen even though I had many other options. Me and my family feel great in this place, we have been here for two fun years and I think I have plenty more in me to play in the Premier League."
"Portsmouth promised me, as far as they could, that they want to strengthen the team for next season and that their goal is to keep doing well in the Premier League."
This is good news for us. When Hermann was given a run in the team last season he didn't disappoint and played a huge part in keeping us in the Premier League. He is probably our most under-valued member of the squad and I still feel that he has something to offer.
I expect he will be more of a squad player this coming season but he's a good squad player to have.
Thanks for staying loyal Hermann!