Rowe, 25, has played six senior matches in his debut season after being taken at No.44 in the 2011 NAB AFL Draft.
The former Sydney Swans rookie battled testicular cancer last season, and finally made his debut against Collingwood in round two of 2013.
Last week he worked in tandem with Lachie Henderson as a tall forward option and spent time in the ruck relieving Matthew Kreuzerr.
"I must be doing something right," Rowe told carltonfc.com.au.
"It's not easy getting another contract so I'm pretty proud I've been able to get another one. It's quite satisfying and very rewarding."
Assessing his season, he said: "I probably started okay, then fell off a little bit and had to work my way back into the team.
"I got back in last week, so I'm really setting myself now to do everything I can to play out the rest of the season.
Football operations manager Andrew McKay said the club's decision was based on what Rowe offered both on and off the field.
"Sam has been playing some consistent football for both the Northern Blues and most recently in the senior team," McKay said.
"We admire his competitiveness and the way he goes about his footy."
Rowe joins a list of Carlton players to have already re-signed this season including Chris Judd, Zac Tuohy, Dennis Armfield and Andrew Carrazzo.