Antic steered Serbia to next year's World Cup finals in South Africa for their first major tournament as an independent nation and the FSS gave the 61-year-old coach top marks.
"Many good things happened since Antic took over in August 2008 and we have decided to maintain the present course with Antic at the helm for the Euro 2012 campaign," the FSS said on its website.
"The current contract will be extended until the end of the qualifiers and it is to be renewed automatically for the finals should Serbia reach the tournament.
"With Antic in charge, the national soccer team has pulled crowds back to the stadiums, several players have peaked and football has won back the its place in society."
Support for the national team had dwindled after Serbia failed to qualify for Euro 2008 under Spaniard Javier Clemente and reached its lowest ebb under his successor Miroslav Djukic, who stepped down after only eight months in charge.
Red Star's Marakana stadium was sold out for four of Serbia's five 2010 World Cup home qualifiers and many fans were left without tickets for the 5-0 rout of Romania that sealed their berth in the finals.
