Peacock-Farrell has put pen to paper on a new two-year contract which will keep him at Elland Road until the summer of 2018.
The goalkeeper, who was handed his first team debut against QPR last season by former head coach Steve Evans, was out of contract this summer.
Peacock-Farrell wanted to know who Leeds' head coach and goalkeeping coach would be for the new campaign before comitting himself.
Following the appointment of Garry Monk as head coach, Peacock-Farrell agreed to stay a new deal.
He told the club's site: "I’m delighted to commit my future to Leeds for another two years.
"It’s a massive club and it’s a great privilege to be a part of it moving forward.
"I was never in doubt about where I wanted to be or where my future lies. It was just about getting the final pieces sorted – now it’s all done."