The five-time NBA champion entertained offers from other teams as a free agent, including a recent conversation with the Miami Heat. He decided not to leave the franchise where he has spent 11 of his 14 NBA seasons.
Fisher started all 82 games last season, averaging 7.5 points and 2.5 assists. He raised his game in the postseason, averaging 10.3 points to help the Lakers win their second straight title.
Los Angeles lost free agent Jordan Farmar to New Jersey on Monday, but signed Steve Blake last week. Blake likely will share playing time with Fisher.