Thomas' well-publicised goalkicking yips reared their ugly head again earlier in the year and came to a flashpoint after the Kangaroos' shock 18-point loss to the Western Bulldogs in Round 7.
The 24-year-old missed two simple shots on goal that day which prompted coach Brad Scott to threaten him with being dropped from the team if he didn't start kicking straight.
But Thomas responded superbly, booting 24 goals in his last 11 matches of the season at an accuracy rate of 70.6 percent.
He finished the year with a career-best 38 goals at 66.7 percent and said it wasn't a tough decision to stay at Arden Street.
"My manager Michael Quinlan and the club have been in close contact all year but we didn't really rush anything and just let it take its course," Thomas told North's official website.
"I've always said I wanted to be a part of North's next premiership and the way things are going, it won't be too long."
Meanwhile, veteran Brent Harvey will take up a coaching role at the start of next season while he serves his six-week suspension.
The champion Kangaroo is unavailable until Round 7 next year for separate incidents in the first elimination final against West Coast where he struck both Daniel Kerr and Adam Selwood.
"People close to me know I do love my football, so I definitely will pursue that (coaching) after football," Harvey told The Footy Show.
"This will certainly give me a taste of what it's about, and six weeks is a long time.
"I've just got to find something that can really help the football club now and put my best foot forward and help these young guys develop as quickly as possible."
Harvey, North Melbourne's all-time games record holder with 346, was still smarting at the prospect of missing so much footy in his 18th season.
"(I'm) very disappointed in the outcome, not only missing six weeks, but the other thing is, there was no evidence to find me guilty," the 34-year-old said.
"But saying that, I've got to put it behind me, because there's no use dwelling on it because it's not going to make it any easier for me.
"I've just got to look forward and help focus on some things I can help the football club with."
The Kangaroos' season ended in humiliating fashion a fortnight ago when the Eagles obliterated them by 96 points in the first week of the finals at Patersons Stadium.
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