The team has given Yost a two-year contract extension, the team announced Monday.
The Royals finished this season with an 86-76 record in Yost's fourth year in Kansas City, their best since 1989 and the first winning campaign since 2003.
"I'm really pleased we're coming back," he said. "I think we've made great progress this year and I'm very excited about our future."
General Manager Dayton Moore addressed the media with Yost at Kauffman Stadium on Tuesday, and discussed his pleasure over the direction of the club despite missing the postseason.
"In a small way, it feels like we've won the World Series," he said. "There's an excitement around this group of players."
Moore went on to explain he meant his excitement over the team appealing to fans young and old. His contract will be up in 2014.
"I'm real comfortable with where we are, where I am personally. 'Satisfied' is the wrong word, but I've got a peace about where we are and what we've done."
The offseason should prove to be busy with the free agents the team must deal with, most notably pitchers Ervin Santana and Bruce Chen. Moore said he'll continue to evaluate the situation as Santana draws interest from the market.
"I've spoken to his represented and I've spoken to Ervin, obviously, as well and just told him how much we appreciate everything that he's done for us. We'll keep and open mind and just work hard to stay in contact this offseason."
Moore also pointed out the need for another bat in the lineup, but did not specify whether they would look to bring in a player of a specific position.
When asked if he expects payroll to go up next season, Moore said he believe it will be "roughly the same" as the $82 million dollars the club spent in 2013, despite the fact the team will receive roughly $25 million in television revenue from new contracts that will kick in.