Lanning, who made her debut for the club in WBBL|01, missed last season after taking leave away from cricket but returns to the squad for WBBL|09.
The club's all-time leading runs scorer has a phenomenal record with the Stars, averaging over 34 with the bat at a strike rate of 117.
"I've been lucky enough to enjoy a lot of team success in my career but I haven't enjoyed the ultimate success in the WBBL yet so that is a huge motivating factor for me," Lanning said.
"Despite not making finals last year, to see this young, exciting group grow as the tournament wore on was excellent to see.
"This team has huge potential, and I can't wait for WBBL|09 to roll around."
Lanning's most recent achievement was guiding Australia to its third ICC Women's T20 World Cup in a row.
Her outstanding leadership record speaks for itself, having now captained Australia to 4 ICC Women's T20 World Cups, an ICC Women's World Cup and a Commonwealth Games gold medal.
Melbourne Stars General Manager Blair Crouch was thrilled to secure the signature of an icon of women's cricket.
"We are so happy to welcome Meg back for WBBL|09 and it's a great show of faith that she's committed to the club until the end of WBBL|11.
"Meg is one of the most recognisable cricketers of her generation and our young squad will greatly benefit from her knowledge and experience.
"Her leadership qualities are second to none and I'm sure all our members and fans can't wait to see her in green again."