Yes, there is. I would change the partition names to something more meaningful.

Let say the table look like this in the mydb database:

CREATE TABLE mytable
(
    id INT NOT NULL AUTO_INCREMENT,
    date DATETIME,
    PRIMARY KEY (id,date),
    KEY (date)
)
PARTITION BY RANGE( YEAR(date) ) (
    PARTITION p2015 VALUES LESS THAN (2016),
    PARTITION p2016 VALUES LESS THAN (2017),
    PARTITION p2017 VALUES LESS THAN (2018),
    PARTITION p2018 VALUES LESS THAN (2019),
    PARTITION p9999 VALUES LESS THAN MAXVALUE
);

To add a partition with the year 2019

ALTER TABLE mytable DROP PARTITION p9999;
ALTER TABLE mytable ADD PARTITION
    (PARTITION p2019 VALUES LESS THAN (2020)),
    (PARTITION p9999 VALUES LESS THAN MAXVALUE)
;

To drop the oldest partition

ALTER TABLE mytable DROP PARTITION p2016;

Want a Stored Procedure to do the following ?

• Drop partitions before this year
• Append new partition 4 years into the future

Here is the code

DELIMITER $$

DROP PROCEDURE IF EXISTS `mydb`.`sp_mytable_Rotate` $$
CREATE DEFINER=`root`@`localhost` PROCEDURE `mydb`.`sp_mytable_Rotate` ()
This_Stored_Procedure:BEGIN

  SET @year0 = YEAR(NOW());
  SET @year4 = @year0 + 4;
  SET @year5 = @year0 + 5;
  SET @OldPartitionToKeep = CONCAT('p',@year0);
  SET @NewPartitionToMake = CONCAT('p',@year4);

  SELECT COUNT(1) INTO @zapcount FROM information_schema.partitions
  WHERE table_schema = DATABASE() AND table_name = 'mytable'
  AND partition_name < @OldPartitionToKeep;

  IF @zapcount = 0 THEN LEAVE This_Stored_Procedure; END IF;

  SELECT GROUP_CONCAT(partition_name) INTO @partitions_to_drop
  FROM information_schema.partitions  WHERE table_schema = DATABASE()
  AND table_name = 'mytable'  AND partition_name < @OldPartitionToKeep;
  SET @partitions_to_drop= CONCAT(@partitions_to_drop,',p9999');

  SET @sql = CONCAT('ALTER TABLE mytable DROP PARTITION ',@partitions_to_drop);
  PREPARE s FROM @sql; EXECUTE s; DEALLOCATE PREPARE s;

  SET @sql = 'ALTER TABLE mytable ADD PARTITION ';
  SET @sql = CONCAT(@sql,'(PARTITION ',@NewPartitionToMake,' VALUES LESS THAN (',@year5,'))');
  PREPARE s FROM @sql; EXECUTE s; DEALLOCATE PREPARE s;

  SET @sql = 'ALTER TABLE mytable ADD PARTITION (PARTITION p9999 VALUES LESS THAN MAXVALUE)');
  PREPARE s FROM @sql; EXECUTE s; DEALLOCATE PREPARE s;

END $$

DELIMITER ;

From here, just call it

USE mydb
CALL sp_mytable_Rotate();

On January 1, you could backup the old partition's data using mysqldump before rotating like this:

MYSQL_USER=root
MYSQL_PASS=rootpassword
MYSQL_CONN="-u${MYSQL_USER} -p${MYSQL_PASS}"
THISYEAR=`date +%Y`
(( LASTYEAR = THISYEAR - 1 ))
BACKUP_FILE=Data_From_${LASTYEAR}.sql
BACKUP_GZIP=${BACKUP_FILE}.gz
mysqldump ${MYSQL_CONN} mydb mytable --where="date<'%{THISYEAR}-01-01'"| gzip > ${BACKUP_GZIP}
mysql ${MYSQL_CONN} -Dmydb -ANe"CALL sp_mytable_Rotate()"

Based on Vérace's suggestion, if you want to backup the data into a table, an ARCHIVE table can compress the data and have no additional overhead for indexes.

MYSQL_USER=root
MYSQL_PASS=rootpassword
MYSQL_CONN="-u${MYSQL_USER} -p${MYSQL_PASS}"
THISYEAR=`date +%Y`
(( LASTYEAR = THISYEAR - 1 ))
BACKUP_TABLE=mydata_${LASTYEAR}
MKDT="MAKEDATE(${THISYEAR},1)"
SQL="CREATE TABLE ${BACKUP_TABLE} ENGINE=ARCHIVE SELECT * FROM mytable WHERE 0=1;"
SQL="${SQL} INSERT INTO ${BACKUP_TABLE} SELECT * FROM mytable WHERE date < ${MKDT}"
SQL="${SQL} CALL sp_mytable_Rotate();"
mysql ${MYSQL_CONN} -Dmydb -ANe"${SQL}"

You can then move .frm and .ARZ files of the ARCHIVE table to a designated backup volume.

GIVE IT A TRY !!!