Yates, 30, will celebrate 10 years with the Gladiators in March, having joined from Shirebrook Town in 2009.
He made his debut as a substitute in a 2-1 home win over FC United, having impressed then manager Mark Atkins playing against Matlock in the Derbyshire Senior Cup.
Current manager, Dave Frecklington, said: "It's a fantastic achievement, he's an excellent player and has been a great loyal servant in times when loyalty isn't such a big thing in football. He's a model of consistency and we hope he'll be here for many years to come."
Meanwhile, Matlock have released defender Taron Hare.
Frecklington added: "It was a tough decision to let Taron go but we can't carry seven defenders. He's a great lad and was one of the first lads we brought in when we came to the club, he'll have no problem getting another club.”