The 25-year-old joined the Basque outfit from Las Palmas last summer and quickly became an integral part of the team, scoring 12 goals in 28 appearances as the club finished sixth in the league last term.
"I am very happy, it is a very great happiness," Jose told the Sociedad website. "It is a great pride to wear this shirt and extend my contract now.
"I am very excited, hopefully this year will be very good. It is a very good opportunity to grow as a footballer and a person. We have a very good team and the opportunity to make history with this club."
The former Real Madrid youth loanee has also got off to a blistering start this term, scoring two and registering an assist in the first four games of the campaign.