The big central defender arrived at the University of Bolton Stadium last summer after leaving Barnet and has caught the eye with a string of imperious performances which have seen him feature in many Sky Bet League Two Teams of the Week.
The 25 year-old has been an ever-present in the league for Wanderers this term, helping Ian Evatt’s men to rise to seventh in Sky Bet League Two.
Speaking about his new deal, Santos said: “I’m happy it has finally got done. We have a good bunch of lads and I really enjoy it here.
“The gaffer and the management team believe in me a lot and I just want to keep pushing on and helping the club as best as I can.”
Wanderers Manager Ian Evatt added: “I’m very happy that Rico has signed a new contract. He’s been fantastic all season for us and his improvement has been phenomenal.
“He’s becoming a real leader of the team and his consistency has been great.
"I’ve said it before that we want to keep our best players and this is a club that should be building a team around players like Rico.”
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