Hasselbaink arrived at Ninian Park last August on an initial one-year deal, but now is set to take up the option of a further season.
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Cardiff striker Jimmy Floyd Hasselbaink
The former Charlton, Middlesbrough, Chelsea, Atletico Madrid, Leeds and Boavista star scored nine goals in all competitions for Cardiff this season, including one of the goals of this season's FA Cup in the win over Wolves at Ninian Park.
Saturday's final turned on an error from Cardiff goalkeeper Peter Enckelman, who was unable to hold a dipping John Utaka cross and allowed Kanu to poke the loose ball home in the 37th-minute.
But despite the disappointment of losing in only their third ever FA Cup final - after defeat to Sheffield United in 1925 and victory over Arsenal in 1927 - Hasselbaink praised the attitude of the Bluebirds fans at Wembley.
"Normally if you look at the big clubs, when they lose the fans are gone. Our fans are staying and clapping the Portsmouth team, those are real fans," Hasselbaink added.
"They showed a lot of character and this club is going forward. The club is magnificent... Cardiff is a club that is growing."