The 24-year-old joins Jamaican shooter Jhaniele Fowler-Reid and captain Wendy Frew in having put pen to paper for the 2016 ANZ Championship campaign.
Francois, the third-most-capped Steel player (51) behind Frew (91) and Liana Leota (54), started all 14 of the Steel's matches this season.
With midcourter Phillipa Finch gone from last year, Francois shifted inside to centre allowing promising 23-year-old Gina Crampton to emerge at wing attack.
She was named vice-captain last season, and said signing on for a fifth season was ''absolutely the easiest decision'' since starting her ANZ Championship career.
''This really was the most fun season I've had with the girls,'' she said.
''Their love of the game and the passion they show week in and week out really drives us in everything we do, from training to our on court performances.
''We have an awesome culture and it's exciting to think about what we can achieve together.''
While the Steel managed to hold on to Francois, they missed out on retaining up-and-coming defender Phoenix Karaka, who yesterday agreed to terms with the Central Pulse for next season.
Karaka made 32 appearances for the Steel in her three years with the side and particularly impressed in the past season, starting all 14 games and finishing fifth in the league in intercepts (26).
The 21-year-old, who is originally from Auckland, formed a handy combination with Storm Purvis, but was now looking forward to combining with Silver Fern Katrina Grant in Wellington.
''I'm excited about making the move to the Pulse,'' she said.
''It'll give me an opportunity to work with Katrina, which in itself will be good for the future development of my game.
''At first, I felt a bit nervous about leaving Invercargill. Wellington is a bigger place, but I've got family in the capital, which will be good for me, and I needed a change.''
Karaka's departure makes retaining Purvis and Jane Watson a priority for the Steel, which only carried three specialist defenders on its roster in the past season.
Even if Purvis and Watson are retained, the Steel will have to look elsewhere for another defender.
Francois and four other Steel players - Te Paea Selby-Rickit, Storm Purvis, Gina Crampton and Brooke Leaver - will attend the Silver Ferns and NZ A trials in Auckland next week.
