The 24-year-old has agreed to an extension which will see him remain at the London outfit until the end of the 2019/20 European season.
Speaking to his club’s official website Luongo expressed his delight at signing a new deal.
“I’ve enjoyed my time at QPR so I’m really pleased to have signed this new deal,” Luongo told www.qpr.co.uk
“It was a big decision for me, but the right decision.
“The next few years will be really important in my career, and hopefully I can build on the progress I feel I’ve already made with QPR.
“I’m really enjoying my football here and the fans seem to have taken to me as one of their own, so I couldn’t be more delighted.”
Luongo joined the Hoops from Swindon Town in May 2015 and has made 59 appearances for the club in all competitions.
The Sydney-born midfielder also has 23 international caps to his name after making his debut against Belgium in September 2014.
The Socceroos are back in action next month when they play two crucial World Cup Qualifiers, away to Iraq on 23 March before taking on UAE in Sydney five days later.