Mandorlini guided Verona to a surprising 10th-place finish in Serie A this season following promotion from the second tier.
The 53-year-old's current deal expires this month but the former Atalanta, Bologna and Sassuolo coach has now pledged his long-term future to the club.
"I haven't signed my contract extension yet but by Wednesday we will make official my renewal," Mandorlini told L'Arena.
"I believe a lot in this project.
"I turned down an important offer to coach in China because my priority has been to remain here.
"Verona is my home and until it lasts, I will not leave.
"Sooner or later I will be sacked but until then I will remain."
"We've had a fantastic campaign," he added. "Our aim next season will be to again avoid the drop.
"Our mentality should not change.
"This year we have been able to defend our Serie A status well ahead of time and this will be our objective next season."
