In a video posted to social media, Penix said, "As I look back on this special season we had, I realized there were so many great moments and things to celebrate, but I KNOW for sure there is so much more out there for this team and the job is still not finished. I can't wait to be back playing in Husky Stadium for the 2023 season!''
No. 12 Washington went 10-2 under first-year coach Kalen DeBoer and will face Texas in the Valero Alamo Bowl on Dec. 29.
Penix began his career at Indiana and played under DeBoer in 2019 before transferring to Washington and rejoining him after the 2021 season.
He redshirted at Indiana in 2018 and will use the additional season of eligibility granted in 2020 to play one final year for Washington.
Penix has endured several significant injuries in his college career, and a jump to the NFL seemed likely after he passed for 4,354 yards with 29 touchdowns and seven interceptions this fall.
Instead, he will return to a Washington team that improved by six wins in DeBoer's first season, finishing in a three-way tie for second place in the Pac-12. Penix is just the second Washington player to eclipse 4,000 passing yards in a season and needs 105 yards in the bowl game to set the school's single-season passing record.