The 27-year-old Spanish full-back, who attracted interest from Fulham during last month's transfer window, has put-pen-to-paper on a one year contract extension that ties him to the club until the summer of 2011.
"I am very happy to sign the extension," Rangel told the club's official website.
"I've always said that Swansea gave me my opportunity in British football and I'm so grateful for it. Now I aim to reach the Premier League with them."