The 21-year-old will make the step up to League One with the Shrews after impressing during his debut season at the Greenhous Meadow.
Clark made 33 appearances in all competitions, scoring two goals, after joining the club in the summer.
And he is excited at the prospect of testing himself at a higher level next season.
“It’s great to have been given another year and hopefully now I can push on and achieve another promotion,” Clark told the club’s official website.
“Last year was my first really as a professional in the Football League and it was a really enjoyable season.
“(League Two is) a tough competition but the lads have done really well and we achieved what we set out to with promotion.
“We know we are good enough to be in (League One). We played some really good teams last season.
“We gave the champions of England a run for their money at one stage.
“We beat Leicester, Norwich and Walsall and that shows the quality we have got. Next year is looking really positive.”