The 35-year old striker has re-signed as the Jets' marquee man for a second campaign after scoring nine goals in 23 appearances during the 2012/13 regular season.
"I'm pleased to be extending my stay in Newcastle for another year," Heskey said.
"Everyone has made me feel very welcome here and I've really enjoyed my first season playing for the Jets.
"I'm looking forward to getting a full pre-season under my belt and helping the team push for a finals place next season."
Heskey, who has previously played with Leicester City, Liverpool, Birmingham City and Wigan Athletic, joined the Jets from Aston Villa in September has helped the Hunter club reach 11,000 members which is the highest in club history.