Collingwood has announced the re-signing of running defender Oleg Markov.

Markov, who was slated to come out of contract at the end of the Pies' finals campaign, has penned a one-year extension at Olympic Park, tying the South Australian to Collingwood until the end of the 2024 season.

The 26-year-old, who previously played for Richmond and the Gold Coast Suns before donning Magpies colours, joined the club as a rookie in February, signing during the Supplemental Selection Period.

The 72-game defender earned a spot on the Pies' AFL list after fellow defender Charlie Dean was placed on the inactive list due to a long-term injury.

Markov averaged 12 disposals across 21 matches, cementing a place in Collingwood's backline in the second half of the 2023 campaign.

"We are pleased to re-sign Oleg who has committed to the Club for another year," Collingwood GM of Football Graham Wright said on Wednesday afternoon as part of a club release.

"Oleg has had a significant impact since he joined our program in February.

"His run, creativity, and bounce out of the back half has contributed to us being a top-four team in the competition.

"Off the field, Oleg is a much-loved teammate and we look forward to what he can do for the remainder of 2023 and into next season."