The show has been a ratings success since starting in January, with a peak episode audience of 9.4m viewers, and has been the most watched new drama since Scott and Bailey.
The second series will see Jeremy Piven reprise his leading role as the flamboyant and visionary American entrepreneur Harry Gordon Selfridge.
Other key cast are also set to return, alongside some exciting new characters.
ITV by Acting Director of Drama Commissioning Steve November said: "I am delighted to be recommissioning ten new episodes of Mr Selfridge from ITV Studios.
"It is ITV drama at its best and we are looking forward to spending more time with the wonderful characters."
Set in 1914 in the run up to the Great War, Harry Selfridge has made his mark and established his iconic store, bringing life to the dead end of Oxford Street and revolutionising shopping in London.
His pioneering ideas and spectacular events have made Selfridge's a thriving success.
However the onset of war, set to be the greatest and most devastating in history, touches the lives of everyone in the store. In these troubled times, Harry turns to family and friends and sets about healing the rifts of the past.
The 10 one-hour long episodes of Mr Selfridge's second series will begin filming in April on location in Greater London and Kent.
It will be shown in 2014 to coincide with the centenary of the First World War.