Boss Carlo Ancelotti told the club website: "I am familiar with all of his fantastic qualities, so I am delighted he will be with us for another four years."
Alex and Kalou's contract extensions come at a time when the club are appealing against a Fifa transfer ban that prevents them registering new players until 2011.
The punishment was meted out after the club was found guilty of inducing Gael Kakuta to breach his contract with Lens in 2007.
Didier Drogba, Ashley Cole and John Terry have all also recently pledged their future to the Premier League outfit.
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