Bennett, 30, has spent the last two seasons with Calgary. He has 85 tackles, five special-teams tackles, five interceptions and four forced fumbles in 36 regular-season games.
"Fred has been a reliable player and an important contributor to our defence as well as to our special teams since he joined the Stampeders two years ago," Calgary head coach/GM John Hufnagel said in a statement. "I'm pleased that he has made this commitment to the club and expect more good things from him in the years to come."
Bennett, started all 18 regular-season games as well as the Western Final for the Stampeders last season. He registered 38 tackles, two special-teams tackles, three interceptions and three forced fumbles.
"The Stampeders are a first-class organization and I'm happy to be staying," said Bennett. "I'm still looking for the first ring of my football career and I believe we're very close to a championship.
"I'm looking forward to the new season and to finishing the job. I truly believe that Calgary is the right place for me."