Despite being among the favourites to be relegated at the start of the season, Bury finished fourth and only lost out to Shrewsbury on penalties in the play-off semi-finals.
And the 20-year-old Bennett, who is contracted to Wolves, insists the club's success is all down to Knill.
"When I first came to this club last February I didn't think what has happened to this club this season could ever have happened at the time," Bennett told the club's official website.
"Normally when a new gaffer comes the club seems to have a little turnaround then go back to normal, but Alan Knill has continued it here.
"He is the reason why this club is moving forward, plain and simple - it's Alan Knill."