The Senators announced the club and 36-year-old Neil, a rugged winger and the franchise leader in penalty minutes, agreed to terms on a one-year contract extension worth $1.5 million.
In 62 games this season, Neil has three goals and 10 points.
“Chris has long been someone who exemplifies strong work ethic and character while striving to be a leader and a good example for our young players,” said Senators GM Bryan Murray in a statement.
“On the ice, he’s played quality minutes for us this season and continues to play an important role on our team. I’m additionally glad to see him return in light of what could be a significant milestone for him next season and something that would only be fitting to see him achieve in a Senators uniform.”