Thompson, who has played 307 AFL games, will enter his 17th season and will continue to lead and mentor the young Adelaide midfield.
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The 33 year-old midfielder was still at his damaging best in 2016, finishing first at the club in clearances and third in total disposals.
The Crows have also rewarded Wigg for another solid season, as the 19-year-old was on the verge of making his AFL debut on numerous occasions this season having been named as an emergency.
Crows General Manager of List Management and Strategy Justin Reid said the club is well placed heading into the AFL’s trade period.
“We are pleased with how our list is developing and a number of players in both the AFL and SANFL line-ups made good progress in 2016,” Reid said.
“However, there is always room for improvement and as we have often stated we will aim to bolster our talent through the draft while targeting specific needs in the trade window.”