Despite spending part of last season on loan at Fleetwood, the former Rangers midfielder has penned a new deal at Bloomfield Road, which has the option of a further year.
"I'm delighted to have signed," Ferguson, who considered retirement, told the official club website.
"I've signed a one-year deal and I will just take it year by year now.
"I did consider it (retirement) to be honest when I went on loan to Fleetwood. It had crossed my mind, but my decision was made when Paul Ince came in as he put me straight back in to the side."
The 35-year-old midfielder has made more than 60 appearances for Ince's men following his arrival from Birmingham in 2011 and has captained the club ever since.
Youth-team products Tom Barkhuizen and Adam Dodd have also extended their contacts with the club.
- Sports & Recreation
- Paul Ince