Not going down a sinkhole yet! Home and Away icon Ray Meagher re-signs to star on soap for another FIVE years after playing beloved Alf Stewart for three decades

Ray Meagher has extended his Home and Away contract for an additional five years.

The 78-year-old actor, who has portrayed the beloved Alf Stewart on the popular Channel Seven serial opera for three decades, has made the shocking admission that he never believed he would have much of a future there.

We had completed the pilot, and, to be completely honest, I had grown older and more pessimistic and was certain it would fail, just like most [shows] do, he added.

After first rejecting their offer of a two-year contract, Ray claimed in an interview with the Scottish Sun that the producers eventually convinced him to sign on for the show for six months.

I never really had a target number of years or anything similar, he admitted.

Why would you stay for that long, people frequently ask.

I believe the people are the fundamental answer. We have a great team, and some of them have worked there almost as long as I have.

Ray has been a part of the show since it first aired in 1988.

Last October, Channel Seven’s revival of This Is Your Life featured the endearing actor as its guest of honor.

Additionally, a vast list of former members of the Home and Away cast, including Chris Hemsworth, paid tribute to the legendary Australian showbiz figure.

Ray struggled to control his tears as he heard Chris refer to him as “the godfather of Australian television.”

Before moving to Hollywood, Ray and the Thor actor costarred in Home and Away from 2004 to 2007.

Chris paid Ray a touching and humorous homage through video link, saying that Ray was always a good friend and mentor to him. Chris said, “You’re my hero,” to the seasoned actor.