The club had earlier announced that the Spaniard will be leaving, amid reports he will join Paris Saint-Germain at the end of the season.
The 29-year-old, who was named the club’s Player of the Year by United fans in 2016-17, has made 132 Premier League appearances during five seasons at Old Trafford.
Herrera has started 16 of United’s league matches this season, struggling to hold down a regular place as he once did under Jose Mourinho.
In an emotional video message posted via the club’s official Twitter account, Herrera said:
“There is red in my heart. I knew it from the first time I played here and in the moment that I started to wear it.
“A club with thousands of fans that respect and remember all the players who give everything.
“I felt special when I heard my name chanted. I felt proud when the fans decided I was part of this incredible history.
“Every time I represented this club, in every game, in wins and losses, even when I couldn’t help from the grass I understood what this club means.
“I’m going to remember each of the almost 200 matches that I have played with this jersey because playing for the greatest club in England has been a true honour.
“Thanks for these five amazing years!”