Woodson was one of the Raiders' defensive leaders in 2014 when he led the team in tackles and interceptions. The 38-year-old was also the only member of Oakland's starting secondary to play in all 16 games after injuries sidelined Tyvon Branch and cornerbacks Tarell Brown and Carlos Rogers.
The former Heisman Trophy winner and 2009 NFL Defensive Player of the Year, Woodson was scheduled to become a free agent in March. He had stated his desire to return to Oakland but did it with a caveat, saying he only wanted to come back if the team retained then-assistant defensive backs coach Marcus Robertson.
Robertson was not only re-hired to be a part of head coach Jack Del Rio's staff last week, he was promoted to defensive backs coach as well.
"I wouldn't have spoken so strongly about him if I didn't feel he was so important," Woodson said last week while attending a Golden State Warriors game with his wife and children. "I definitely plan on playing."
Woodson, an eight-time Pro Bowl selection, became the first player in NFL history to have at least 50 career interceptions and 20 sacks.
The rest of Oakland's secondary remains uncertain. Brown played very well before getting hurt while Rogers had an up-and-down season. Both are slated to hit the free-agent market, while Branch could be a salary cap casualty.