(REUTERS) - Spanish MotoGP rider Dani Pedrosa has extended his contract with the works Repsol Honda team to the end of 2016, the Japanese manufacturer said on Wednesday.

Pedrosa, team-mate of world champion Marc Marquez, is currently third in the championship and level on 128 points with Yamaha's second-placed Valentino Rossi.

The 28-year-old Spaniard has been with Honda since his debut in motorcycling grand prix racing in 2001, winning the 125cc title in 2003 and 250cc crown in 2004 and 2005.

He made his MotoGP debut in 2006 and has been runner-up in the championship three times.

Pedrosa thanked Honda for their trust in him. "It's the best way for me to continue in my racing career, together with the company I was with in my very first race," he said.

Marquez, the youngest MotoGP champion at 21, extended his contract for a further two years in May. He leads the championship on 200 points after eight of 18 races.