Coulson, who has been a regular feature at the Flamingo Land Stadium since joining from St Johnstone, is new boss Jono Greening s first recruit, though a number are set to follow.
The attacker began his career at Scarborough FC before going on to play for a number of clubs including Barnsley, York City and Grimsby Town.
Greening said: "I'm delighted to have him onboard for the year again. Scarborough is in his heart, he is a top player and a top pro.
"When I was at York running the 18s, he was a massive presence for them and I played against him when he was a whippersnapper at Barnsley. It has been a joy to watch him over the years and I'm very pleased to have him as captain of the club.
"He's not just a creative player who can score goals, he is one that puts a shift in for the team, which is exactly what I want."