The former Motherwell and Southend United midfielder was out of contract this summer but has penned a new contract at Inverness.
Caley Jags gaffer Terry Butcher says: "Richie is an inspirational player for this club. He's done a magnificent job for us in the past two years and still has a major contribution to make.
"Recently he's been performing a new holding role in midfield and done extremely well there. Richie commands the respect of the players and the management team alike.
"Maurice Malpas and I signed up for new two year deals and this continuity is maintained by Richie committing for a similar period."