The Toronto Argonauts have re-signed veteran quarterback Ricky Ray to a one-year contract, the team announced on Friday.

The 38-year-old will enter his 16th season in the CFL and seventh with the Argonauts in 2018.

Ray won his fourth Grey Cup (second with the Argos) in 2017, throwing for 5,546 yards with 28 touchdowns and 11 interceptions over 17 games. He played a full slate of games last season after appearing in just 12 contests over the two previous years due to injuries.

"Ricky Ray will go down as one of the greatest quarterbacks to ever play in the CFL, but we are thrilled he's not done adding to his historic career just yet," said Argos general manager Jim Popp. "We are very excited to welcome him back for another season in the Double Blue."

The three-time CFL All-Star has thrown for 60,429 yards with 324 touchdowns and 176 interceptions over 224 career games with the Argonauts and Edmonton Eskimos.

In December, the Argonauts acquired backup pivot James Franklin from the Eskimos and later signed the 26-year-old to a two-year contract extension.

Toronto finished first in the CFL's East Division with a 9-9 record this season. They went on to beat the Saskatchewan Roughriders in the Eastern Final and the Calgary Stampeders in the Grey Cup for their 17th league championship.