The Blues revealed the 30-year-old had agreed fresh terms at Fratton Park, in a deal which would see him remain at PO4 until 2023.
The former Wigan ace attracted plenty of interest this summer, with League Two side’s Northampton and Mansfield closely following his situation on the south coast.
Yet, when the winger was available, he played an influential part in Danny Cowley’s squad last term - scoring seven goals in 32 outings.
'I don't think I realised how much it would mean': ex-Cardiff City and Bristol City man's Portsmouth admission as he chases winning Fratton feeling after homecoming
Former Portsmouth, Sunderland and Millwall ace Aiden O'Brien suffers setback as frustrating start to life at Shrewsbury continues
Danny Cowley makes Portsmouth team selection admission following Cheltenham win - and gives honest assessment of current squad amid early-season promotion hopes
Colby Bishop gives Spurs loanee and England youngster Dane Scarlett raving reviews after making Portsmouth league debut
The role ex-Leicester City, Birmingham City and Charlton Athletic man wants to maintain at Portsmouth after guiding city's young gems at Reading
Jacobs now joins Sean Raggett, Reeco Hackett, Marcus Harness, Louis Thompson, Jay Mingi and Jayden Reid in penning fresh terms this summer, while the Blues remain in negotiations with Aiden O'Brien.
Following Tuesday evening’s announcement, the Fratton faithful have taken to social media to voice their opinions.
Here’s the best of the reaction from Twitter.
@Lawro77: Keep him fit hopefully and reap the rewards. Now for some class to be added around him.
@PompeyKirbs: Quality! Wasn’t his fault Danny didn’t wanna risk him; reckon we’ll see lots more of him this season!
@PFC1977: No brainer this from Pompey. Very pleased to have him on board next season, we would’ve been stupid not to.
@brendonvbone: Now this is great news. Manage his playing time right and I think he could be the pivotal figure.
@pfcmccloud: Get O’Brien penned down and then it’s a very, very similar squad to last season to build off which we haven’t had in a while, Bazunu and Hirst the only two main players gone.
@IanDarke: Good work by Pompey to hold on to Michael Jacobs. Vital to have that sort of invention and craft in the squad. Next season has to be a big one.
@ashleybarfoot24: Very unexpected, very happy about it. Clearly a very good player in League One.
@Jake_PFC: Thought he was off not going to lie but glad he’s not, really hope he stays fit this season. Now get Aiden O’Brien sorted and we’re laughing.
@MikeTattooed: Great news, the lad has that touch of class for sure.
@The_P0rts_Mouth: Takes a lot for a gaffer to admit he didn’t fully utilise a player and get him signed up.
You’d hope that means he takes him into the new season knowing what he offers and that he has to be more involved.