Fraser made 19 appearances last season and increased his contribution as the campaign progressed, scoring in the 4-2 win over Hearts that sealed their Scottish Premiership status.
The 19-year-old former Hamilton player initially joined on loan from Bolton but signed on a permanent deal in January, shortly after completing a nine-game ban following a red card in the under-20s for a retaliatory attack on Dunfermline’s Chris Kane.
Fraser told Partick Thistle Television: “Even the way I prepare for games and the way I go about things, I feel as if I have matured a lot.
“I think there’s a lot more to come from me. I have still to reach the way I know I can play and I want to add more goals and make myself better each game.”