Cooper has signed a one-year contract extension to keep him with the Queensland Reds and the Australian Rugby Union until the end of the 2012 season.
"It's an exciting time to be part of Australian Rugby with the Reds going so well and the World Cup coming up, so I'm glad everything is now squared away," said Cooper, who has become a permanent fixture in the Wallaby starting XV since his Test debut in the autumn of 2008.
"The vibe within the Reds team and the support we're getting from our fans is incredible and I'm proud to be part of it going forward."
Having been named Australia's Super Rugby Player of the Year in 2010, Cooper is currently enjoying another outstanding season as the in-form Reds look to become the first champions of the new extended Super 15.
The New Zealand-born 23-year-old is expected to play a major role at this year's World Cup, while his new deal means he is more likely than ever to feature against the Lions a year after his current contract expires.
"I'm delighted we've extended Quade's tenure in rugby beyond this year's Rugby World Cup because I believe there are some wonderful times ahead for him and this young Wallabies team," said ARU chief executive John O'Neill.
"Quade and his halves partner Will Genia have become superb and consistent contributors to the Reds and the Wallabies and it's hard to imagine a better double act in world rugby.
"Quade delivers an X-Factor, that is undeniable. He has that rare ability to excite an audience and have a defence on alert every time he touches the ball."