The announcement ends speculation about the damaging goalsneak being targeted by other clubs.
Davey has played 19 games in two seasons for 20 goals, and is averaging over four tackles a game, using his speed to advantage to create excellent forward defensive pressure.
“He is an excitement machine,” Essendon team manager David Calthorpe told essendonfc.com.au.
“When he gets the ball he is explosive and exhilarating. He lifts everyone around him – whether it be his teammates or the crowd – and brings everyone into it.
“You never really know what he is going to do but he always produces something exciting.”
Davey was taken by the Bombers in the third round of the 2006 NAB AFL Draft, but played just five matches this year before a knee reconstruction ended his season.
“He may have been forgotten in some respects because of the development that we have seen from our younger guys this year but he will certainly make an impact when he returns,” Calthorpe said.
“He is a significant re-signing and should take some pressure off our small developing forwards next season.”
The 24-year-old joins a host of other Bombers to re-sign this year including David Hille, Jason Laycock, Mark McVeigh, Angus Monfries and Jobe Watson (2010).
