Smith has been in charge since the summer of 2019, during which time attendances have more than doubled.
He led them to the play-offs in 2021/22, where they suffered an agonising late defeat against Chasetown.
He told the club's official website: “I’m delighted to have signed another contract with the club for this coming season.
"Although we didn’t achieve our goal of promotion on the pitch, the growth and development of the club in the three years since my arrival is clear for all to see.
“Keith and Karen’s support and drive are infectious, and it was a very easy decision for me to make to work alongside them again.
"The club has come a long way in such a short space of time, yet this is just the beginning.
“I’m more determined than ever to achieve the goals on and off the pitch that we have all set out to get.
“It’s been a brilliant three years so far and I am excited to see what next season brings.”