The Mancunian returns to the club for a fourth successive campaign and is new player/coach Yorick Williams’ first recruit since taking over from Jeff Jones this month.
Gill has been a key member of the Giants’ squad since 2012 when the club returned to the elite league.
Giants CEO John Dwan said: “Stefan has been a key player for us since day one and we are really pleased he has committed to us for another season.
“His talent, determination and dedication are just what we need for the new campaign.”
Williams said: “Stefan is an experienced and exciting player and a real fans’ favourite. We are glad to have him.”
Giants fans voted Gill their player of the season for 2014/15.
The club hope to announce further signings for the new campaign very soon.