Ward, 32, could have become an unrestricted free agent July 1. He went 23-17-10 with a 2.41 goals-against average and .909 save percentage in 52 games this season, the last of a six-year, $37.8 million contract he signed Sept. 30, 2009.
"I believe the hard work begins now," Ward told the Hurricanes website. "Knowing the Canes gave me this opportunity to come back for two years, I don't take that lightly."
Ward won the Stanley Cup as a rookie in 2006 and the Conn Smythe Trophy as the most valuable player of the Stanley Cup Playoffs. He is 269-208-68 with a 2.70 goals-against average, a .910 save percentage and 23 shutouts in 564 regular-season games.
Ward, was selected in the first round (No. 25) of the 2002 NHL Draft by Carolina and has spent his 11-season NHL career with the Hurricanes.
"Cam has been a major face of the Hurricanes both on the ice and in our community for more than a decade," Hurricanes general manager Ron Francis said. "We are happy he has chosen to continue his career in Carolina."
