Bovo made the switch to Turin from Genoa in July last year and impressed at the heart of the club's defence, making 20 Serie A appearances.
The 31-year-old - who previously played for Torino during a 2007 loan spell - endured an injury-riddled time in his second stint at Genoa, but he is confident his fitness issues are a thing of the past and was thrilled to extend his stay.
"(It is the) best news for me there could be," Bovo told the club's official website.
"I'm happy to have extended my contract.
"I want to thank the president, the coach and all my team-mates. This was a positive season for the team and me.
"I came (after) two bad years, (but) I managed to recover. I'm very proud of this renewal and I hope to stay a long time at Torino."
Torino surprised many in the Serie A last term, finishing above the likes of Milan and Lazio in seventh position.
