Bell endured a difficult first year at Adams Park after suffering a ruptured Achilles injury, but the fit-again centre has produced some impressive displays this season.
Wasps offered him a longer deal and Bell admits he did not have to think long about extending his stay with the club which is performing well in the Aviva Premiership and the Amlin Challenge Cup.
"I believe under Dai Young we will continue to improve and I am very excited about the future of the club and hope to be a big part of it."
Director of Rugby Dai Young said: "Chris has been excellent since he came here and worked very hard to get back from a tough injury.
"That work is being rewarded now and he's put in some fine performances this season. We are delighted he's committed his future here."
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.
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.