The French striker has been linked with moves to Serie A and the Premier League this summer.
However, he has now expressed his desire to remain at the Principality until the end of his contract in June 2024.
"I'm very happy here," Ben Yedder told RMC Sport. "I have good relationships with the coach [Vahid Halilhodzic] and the players. I feel like part of the family."
He added that he is targeting the Ligue 1 title next season and is confident that the team can achieve it.
"I want to win the league title again," he said. "It's my first time in France and I would like to do something special."
Ben Yedder joined Monaco from Real Madrid in January 2019 for a fee reported to be around €85 million ($96 million).
Since then, he has become one of the club's most important players, scoring 77 goals in 134 appearances.
Despite his success at the club, he has not yet won a major trophy, which could motivate him to stay longer.
In addition, Monaco's financial stability could also play a role in his decision to extend his stay.
The club recently announced a new stadium deal that will help them continue to invest in their squad.
This could make Ben Yedder more likely to sign a long-term contract, as he may see himself playing at the highest level for many years to come.