The 31-year-old has scored 48 tries in 126 appearances for the Blue, Black and Whites since making his debut in 2012.
Rokoduguni has also won four international caps for England, the most recent of which came against Samoa in November 2017.
"Roko is one of the most gifted players I've ever worked with," director of rugby Todd Blackadder said.
"He is one of a kind - he has the ability to create something out of nothing, so we're understandably delighted that Roko's committed his future to the club."
Bath have not revealed the length of Rokoduguni's deal.
