"I loved my time with the Tuatara last season and I feel like I want to have one more crack at earning a Major League contract," Collmenter said.
"I'm in good shape and feel I still have a bit left to offer.
"The (Tuatara) learned a lot last year and I know we will be more competitive than we were in our first season."
Tuatara chief executive Regan Wood said he had no hesitation in offering Collmenter a contract.
"When a player of Josh's standing in the game says he'd like to be part of your organisation you don't wait for a second invitation," Wood said.
"He was terrific for us in so many areas last season and we know what we get with him – he is the consummate professional.
"Josh will be part of a formidable starting rotation for us this season and we look forward to seeing what he can do with a more competitive roster behind him than we had last season."
Collmenter will also be lending a hand to the commentary team, trading his glove for a microphone of some of his off days.