France international Abidal, who recently made a recovery from liver cancer, joined from Barcelona at the start of last season, and played 26 league matches as Monaco finished second behind Paris Saint-Germain in Ligue 1.
Carvalho moved to the club at the same time from Real Madrid, and played in all but one of the team's top-flight outings in 2013-14.
It was announced on the club's official website that the pair had both been awarded one-year extensions to their previous deals, which had expired at the end of June.
"AS Monaco is delighted to announce the club has agreed a one-year contract extension with Eric Abidal and Ricardo Carvalho," a brief statement read.
"Eric Abidal and Ricardo Carvalho are now tied to AS Monaco until June 2015."
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