The extension would see Hardy remain at the football club until the end of the 2020-21 season.
A statement said: "The club has been impressed with the calibre of player he has brought to the football club, and believe this to be another level to the commitment they've shown to him since taking over the reigns of the club.
"The club believes him to be the best man to carry on the excellent work he and his management team has done so far, particularly on a very tight budget. The squad assembled to date is one that the club sees as having great potential within the Evo-Stik Premier.
"It also shows a big commitment from Chris to the football club to carrying on the work he has started in developing the footballing side of matters."
Hardy has been linked with the vacant position at Scarborough Athletic, following the dismissal of Steve Kittrick last weekend.
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