The 28-year-old arrived at Welford Road from the Crusaders in 2010, with Waldrom having also played in his native New Zealand for the Hurricances.
Waldrom has quickly established himself a favourite among the fans, going on to seven tries in 52 appearances.
And Waldrom is delighted to have secured a new deal at the club.
"I've really enjoyed my rugby with Leicester over the last two seasons and I am very happy to agree a new contract," he said.
"I have a lot to thank the club for because I would not have got where I am now without Leicester Tigers.
"Everyone at the club has helped me and my family settle in the area, and the supporters have been great to me.
"Now I'm looking forward to the rest of the season and we just want to make the most of our opportunities."
Gilbert has released a new line of rugby cleats. The Gilbert Virtuo 8S is part of the exciting new product. Check it out.
The entire All Blacks apparel line has been updated for 2013/14. Check out the New Zealand All Blacks polo.
The Nike Tiempo is a solid rugby cleat and one of few styles still made from full-grain natural leather.
The Gilbert Blitz 8S rugby cleat is a great cleat at a great price of $69.99. Get a new pair of cleats today.
A cool looking all black rugby cleat with the high performance adidas is known for. Get in the Gear!
Wear the crest of the British and Irish Lions on your t-shirt. A great look for the summer.
$29.99
The All Blacks Performance t-shirt is black with hints of blue from the training jersey. Very Cool.
The New Zealand All Blacks training jersey for 2013/14. Get in the Gear!
The USA Rugby Pro Alternate rugby jersey is perfect for any fan of the Eagles. Get yours to wear during the summer Test matches.
The NEW All Blacks 2013/14 jersey has arrived at World Rugby Shop. Dare to wear the colors of the All Blacks.
