Hodge has signed until the end of 2023 with the Melbourne-based side, one of the big improvers during Australia's recent rugby worries.
With 39 Tests since 2016, he has demonstrated his adaptability in the backline several times at international level and he has been a key contributor to the consistency achieved by the Rebels.
Hodge, from Sydney, joined the Rebels in 2015 and said he felt at home in the side.
"I'm extremely happy to secure my future here in Melbourne, with the Rebels and Rugby Australia for the long term," he told rugby.com.au.
"Since arriving in late-2015, the club has been my home and the people around the Rebels have become family.
"Regardless of where we have come from, or played previously, the Victorian rugby community and our loyal fans have always welcomed Rebels players with open arms.
"I look forward to playing my part in ensuring rugby remains strong in Victoria for years to come," he said.
Hodge said he was also looking forward to the changed Wallabies' environment in the wake of Michael Cheika's departure and with the arrival of Dave Rennie as coach.
There would definitely be a different feel, he said, and he was excited about the future.
Rugby Australia's director of rugby Scott Johnson said it was a positive sign to have Hodge committed for the long haul.
"Reece is a talented young player and we're really happy to have him locked in for the next four years," Johnson said.
"He is capable of playing across almost every position in the backline, has some speed and a strong skillset. He's had great experience already with the Wallabies and has an opportunity to built on that and set his sights on the next World Cup."