The Australian-born prop gained his first full Irish cap during the 2009 RBS 6 Nations Championship, playing against Italy in Rome, and he also featured in the Grand Slam-clinching win over Wales in Cardiff.
Commenting on his new Ulster deal, Court said: "I am delighted and very, very happy. I have been honest from the start, I have been here for over four years, and I made it clear that I wanted to stay with Ulster.
"I am really pleased that everything is now sorted out, I feel very much at home here, I love the people, I love the rugby and I know this Ulster squad is developing in the right direction.
"There is some great young talent coming through and I am very positive about the team achieving success in the future."
'Flying Scotsman' Simon Danielli has also agreed a new two-year contract with Ulster.
The experienced Scotland winger joined Ulster from the Borders at the start of the 2007/08 season. He is an ever-present member of the Ulster 22 and has been in great form this season as Ulster's top try scorer.
Fresh from playing Scotland against Italy in Rome last weekend, Danielli said: "I am really pleased to be staying at Ulster, I consider it to be my home now and I am very excited about the next couple of years.
"I think we have a fantastic group of players and coaches, and I want to contribute to this team winning some silverware."
Ulster's Director of Rugby Operations David Humphreys said: "We are committed to building a team that will meet the expectations of (our new CEO) Shane Logan and many of the Ulster supporters.
"The retention of Tom and Simon for another two years, two highly-respected international players, highlights the fact that they believe that Ulster Rugby is on the pathway to success.
"They want to stay with Ulster and develop their potential along with our squad, and play their part in that journey to success in the future."