The 22-year-old made his Formula one debut in last year's Australian Grand Prix and became the first driver to complete every race in his rookie season.
"I am really happy to be continuing with the Marussia F1 Team into a second season," Chilton said in a statement.
"Continuity is important for the Team but also for me as a driver. You learn such a lot in your debut season, but the second year is when you can really pull all of those new experiences together and show your true potential.
Marussia team principal John Booth said continuity was important due to next year's rule changes in the sport.
"It is highly beneficial to our technical team that we retain the same driver line-up moving forward," he said.
"Max had an impressive debut season last year and, of course, achieved a new rookie record for finishing all 19 races.
"After our success in achieving 10th place in the Constructors' Championship, we have set our sights on a bigger and better 2014 campaign," Booth added.