The new deal will see the 35-year-old play his 18th season at Ashton Gate.
Carey said: “I’m delighted Louis has now signed his deal. He certainly played his part at the end of last season with a strong run in the team.
“It’s well documented that we’re looking to strengthen in the defensive areas, but I think that’s something Louis relishes. He will enjoy the competition that will bring.
“It will be down to Louis how much he plays next season. I know he looks after his body and keeps himself fit.
“He’s also a great person to have in and around the dressing room with so much knowledge and experience.”