The 2013/14 top scorer, who returns to the squad for Saturday’s Sky Bet League One tie with Brentford, joined the Club in January 2013 from Watford on an initial 18 month deal.
The contract had a clause, in the Club’s favour, that allowed the 25-year-old PNE fan’s deal to be extended for an extra 12 months, which could be triggered at any time up to May, however, the Club decided to inform the player now that they were extending the deal.
The No.14, who already had eight goals this season, including seven in five games in November, joined his boyhood club after spells at Blackburn, Carlisle, Nottingham Forest and Watford.
Speaking about the extension, manager Simon Grayson said: “It is more good news. Earlier this week we confirmed the nine new deals and now we have confirmed Joe will also be part of the squad.
“We are building a team that wants to play for this Club, wants to improve and who want to work hard and Joe is another example of that and we are delighted to be able to trigger this clause and continue to work with him.”