The flexible Swede joined Rovers from Halmstads in January 2012 considering that when he has played 49 game titles, scoring 1 aim.
Olsson finished previous season at remaining - back again and Gary Bowyer is happy to have secured the 26- year -old's providers for an additional campaign.
" I'm delighted that he has re-signed for an additional yr," the Rovers supervisor told the club's formal web page.
"He has experienced to hold out a very long time owing to the performances of Tommy Spurr, but the degree of displays that he place in at the conclude of the period against Birmingham, Charlton and Wigan display what a useful member of the squad he is."
Forward of the new year, Rovers have also signed up Chris Brown, Luke Varney and David Dunn, while Alex Baptiste has completed a time - very long personal loan move from Bolton.