Segares spent the last eight seasons with the Fire before the club declined its option earlier this week, only to re-sign him on Thursday. Segares would have entered Friday's re-entry draft had the Fire and Segares not agreed to terms by then.
Reserve goalkeeper Jay Nolly and reserve midfielder Corben Bone are the only two candidates from the Fire in the re-entry draft.
Segares was drafted by the Fire in the third round of the 2005 MLS Draft. Segares has played in 178 regular season MLS matches and over 200 matches overall. He is the seventh player in the club's history to play in over 200 games, and also has 19 appearances with Costa Rica's national team.
Segares said he's "very happy to continue as a Fire player" while calling Chicago his second home.