Roenick, a 19-year veteran, had 14 goals and 19 assists for the Sharks after coming out of semi-retirement for another shot at the Stanley Cup.
The nine-time All-Star became the third American-born player to score 500 career goals in early November, and the sometimes-outspoken forward earned praise this season for his quiet veteran leadership and steady play.
Roenick, who finished second in the NHL with 10 game-winning goals, had a career-best four-point playoff performance in San Jose's first-round victory over Calgary in Game 7.
"Jeremy Roenick was a warrior for our team on and off the ice this past season," Sharks executive vice president Doug Wilson said.
Roenick, 38, all but confirmed he would return for his 20th NHL season after the Sharks were eliminated in six games in the second round by the Dallas Stars.
TSN of Canada reported on its Web site the contract was worth about $1 million.
Roenick has played in 1,321 NHL games with Chicago, Phoenix, Philadelphia, Los Angeles, and San Jose.
He has 509 career goals, ranking 36th in league history, and 694 assists. Among American-born players, he ranks second in career goals, third in points and sixth in assists.
Information from the Associated Press was used in this report.