Freeman made 53 appearances last season and attracted the interest of several Championship and League One sides with his performances and eye for goal.
The winger also swept the board at the Club’s end of season awards in April and Chairman Phil Wallace said ‘Luke is a great example of another young lad rebuilding his career at Stevenage after the disappointment of leaving a Premier League club. He’s worked hard under Graham Westley and created a platform for himself to go much further in the game “