In the week Penrith master mentor Ivan Cleary revealed aspirations to become a representative coach, the Australian Rugby League Commission ensured Walters would hold one of rugby league's top jobs through June 2028.
He will preside over Australia's World Cup tilt this year, as well as the post-NRL season Pacific Championships slated for 2027.
The NRL is likely to announce more international fixtures for the two years before his contract expires.
Walters' tenure began with a 3-0 Ashes clean sweep of England last Spring and had initially been up after June this year.
He had been handed the job on a short-term basis given Mal Meninga's appointment as Perth's inaugural coach forced the long-term boss to immediately step down from the national team.
The new deal is a showing of faith in Walters, who previously coached Brisbane to a narrow loss in the 2023 NRL grand final and Queensland to State of Origin series wins in 2016 and 2017.
"The experience I had with the team at the Ashes was a privilege and very rewarding," Walters said.
"Now to be able to continue into a home World Cup will be a huge honour.
"World Cups always provide the biggest challenges, and I'm looking forward to assembling a great, experienced staff and playing group to have a successful tournament."
The ARLC was impressed by feedback received from Kangaroos players following Walters' first matches in charge on tour of England.
"Kevin did an outstanding job and I'm very pleased to announce him as the Kangaroos coach for the most important tournament in many years," said ARLC chair Peter V'landys.
The news comes on the same day V'Landys confirmed a new six-year deal to keep Magic Round in Brisbane until at least 2032.
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