The 38-year-old former Chippa United and Orlando Pirates coach joined Wydad from Mamelodi Sundowns this season and has led the club to third place on the league standings with 43 points from 25 games.
They are two points behind second place AS FAR but 17 points adrift of league leaders RSB Berkane.
Speaking to Radio Mars, Mokwena's agent Steve Kapeluschnik explained: "I met with President Hisham, the coach, and the technical staff, and there was mutual support between the two parties.
"I clearly told the president: If you don't want Rulani to stay, let us know and we will leave. But if you want him, let him stay until the end of the season. That was agreed upon. He will stay until the end, and then we will leave in a professional and respectful manner."
"The future is clear now. There are five matches left, and Rulani will stay until the end."