The new deal will keep the 31-year-old striker at the Stade Malherbe until 2012.
Savidan has been linked with Lyon in French media recently and the striker admits here have been contact.
“My new deal is the result of my good start to the season, my first French cap and my contact with Lyon,” he said.
“It will allow me to remain in the same mindset as when I first joined Caen (last summer).
“The contract allows me to follow the career path I have always wanted. It allows me to settle at Caen.
“Lyon? I am not disappointed that it didn’t happen because Caen didn’t receive any offers.”