Dybala, 32, joined Roma in 2022 after a seven-year spell at Juventus and has become a key figure for the club, making 139 appearances and scoring 45 goals in all competitions. He also helped Roma to reach the Europa League final in his debut season.
However, the Argentine struggled with injuries last season. He underwent knee surgery in March and missed nearly four months, casting doubt over his future at the club.
Roma finished third in Serie A last season to secure a return to the Champions League for the first time since the 2018-19 season. They begin their new campaign at home against Fiorentina on August 24.