The actor, who plays cab driver Lloyd Mullaney on the ITV1 soap, has been rewarded by chiefs after getting his life back on track over the past year.
"I'm delighted. Corrie is a great place to work and there are some fantastic storylines being lined up for me," Craig revealed. "Life is good right now - I'm a very happy man."
Charles was suspended from the programme in June 2006 when revelations about his drug and alcohol problems hit the tabloids. Following a successful stint in rehab, he returned to the show in early 2007, but was always kept on short-term contracts.
A Street source told The People: "He has worked really hard and proved himself. There were no doubts about offering a longer contract."
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