The Clive Churchill Medallist has signed a one-year extension to his Storm contract, meaning he will return for one more time around the sun in 2018.
Melbourne announced the news on their official website on Tuesday night.
"We are delighted that Billy has made the decision to pull on the purple jersey again in 2018," Storm chief executive Dave Donaghy said.
"He has been a champion of this club and NRL for over a decade so it is fantastic for the game as a whole that Billy will be back on the field next year.