Tranmere initially signed the 19-year old at the end of November and after making his debut against Swansea City, he has gone on to make 13 appearances for the club, scoring once, a winning penalty against Yeovil Town on Saturday.
After enjoying his loan spell, and with wingers Steve Davies and Chris Shuker now out for the season, Tranmere and Bristol City have agreed that the player can stay until the end of the season.
Bristol City manager Gary Johnson has given the move the green light, saying "Jennison is developing well at Tranmere and it would be criminal to bring him back", adding "We'll be letting him stay at Tranmere until the end of the season".
Myrie-Williams' loan spell expired at Tranmere after Saturday's game and the Rovers number 17 travelled down to Bristol on Monday to extend his stay on the Wirral.