The two led Stanley to promotion to League One last season, the first time Stanley had done so since 1960.
Coleman said that it was an easy decision, and that chairman Andy Holt had played a big part.
"It wasn't a difficult decision, we have been speaking about it for the last six months," he said.
"Myself and Andy Holt are on the same page, we both want what is best for the club.
"We don't talk as chairman and manager but as friends.
"I think we are the envy of other clubs, that our chairman is so transparent and he garners the opinions of fans before he makes a decision.
"We have managed to go to the next level with Accrington Stanley and we always believed we could do it.
"There has never been a better time to be at this club than right now.
"It is the fruits of the labours of a lot of different people over the years, who have enabled us to be in this situation."
24 September 2018