Miller, 36, was 18-29-6 with a 2.80 goals-against average and a .914 save percentage in 54 games this season. He signed a three-year, $18 million contract (average annual value $6 million) prior to the 2014-15 season, according to CapFriendly.com.
The Canucks have missed the Stanley Cup Playoffs the past two seasons after making it in Miller's first season.
"We have something to offer Ryan that he already knows," Canucks general manager Jim Benning told the newspaper Thursday. "We've got some positives for him and if that's the route we go, that's why we're doing it.
Benning said he'd like the Canucks to get younger, but feels his team will need some veteran presences to lead the way.
"As we're transitioning these young players into our lineup, I feel that if we have solid goaltending on a night-to-night basis, we can be competitive," he said.
Miller split time with Jacob Markstrom this season. Markstrom, who was 10-11-3 with a 2.63 GAA and .910 save percentage in 26 games, signed a three-year, $11 million contract extension with the Canucks last season which runs through 2019-20, according to CapFriendly.com.
"There's no worse feeling than trying to develop young players and get them up and going when you know you don't have a chance to win," Benning said. "Ryan and Jacob have a healthy relationship because they're competitive and respect each other."
Miller is 358-262-74 with 39 shutouts in 709 games (701 starts) with the Buffalo Sabres, St. Louis Blues and Canucks. He ranks 19th on the NHL all-time list for goalie wins and is fourth in wins among active players, behind Roberto Luongo of the Florida Panthers (453 wins), Henrik Lundqvist of the New York Rangers (405) and Marc-Andre Fleury of the Pittsburgh Penguins (375).
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