The 27-year-old was released by Bristol Rovers at the end of the recent campaign having made almost 250 appearances for the club.
Disley, whose new contract starts on July 1, told the club's official website: "I had the chance to go to a number of other clubs but after I came here there was only one place I wanted to
"There is a good squad here and if the gaffer can keep that together then I think we will have a great chance of the top three next season.
"Shrewsbury have been unlucky in the last couple of seasons so let's hope next season is a better one where we don't have to go to Wembley this time around.
"I did want to stay in League One if possible but if I did drop down then I wanted to go somewhere that had a genuine chance of promotion. That is a real chance at Shrewsbury and I'm really looking forward to being a part of that next season and pushing Shrewsbury into League One."