Rashid is the third-highest wicket-taker for the Strikers with 56 from just 40 matches, and the best economy of those who have bowled more than 10 innings with 6.36.
Rashid first joined the Strikers as a teenager in 2017 and was part of the squad that won its maiden Championship, despite his absence in the Final due to commitments with his national team.
Rashid has best figures of 4/22 which was also his maiden Big Bash hat-trick against the Sydney Sixers at Adelaide Oval in BBL|09.
In August the then 21-year-old became the youngest and fastest to 300 Twenty20 wickets.
Rashid also possesses a mighty swing of the bat, stunning crowds and the opposition with his swash-buckling ‘helicopter shots’ and outrageous ramps to all parts of the ground.
The masterful leg-spinner continues to bamboozle batsmen around the world, most recently plying his trade with Sunrisers Hyderabad in the IPL.
“I’m so happy that I am able to play for the Strikers again in a big tenth season of the Big Bash, and I have loved this competition from the very beginning,” Rashid said from Dubai.
“The Strikers have been like a family to me since I joined them, and I am so thankful to the fans who have been supporting me and made me feel like Adelaide is my home.”
Rashid has previously pledged his loyalty to the Strikers, and the Adelaide team successfully secured his services following intense interest from rival clubs.
Head Coach Jason Gillespie is looking forward to welcoming Rashid back to South Australia for a fourth season.
“Rashid has been such a quality player and person for the city of Adelaide and the Strikers from the moment he arrived,” Gillespie said.
“We’re thrilled his world-class bowling and exciting batting will continue to entertain our loyal fans, and we want to again be challenging for a second title when the tournament begins.”