The 23-year-old has made six appearances in a Glasgow jersey since arriving at Scotstoun last summer, with the former Portobello man set to compete with fellow Scottish second-row options Richie Gray, Scott Cummings, Kiran McDonald and Robert Harley - along with new arrival Lewis Bean - for game time in the engine room next season.
Prior to arriving at Scotstoun, Bain enjoyed two seasons at Stade Nicois thanks to Scottish Rugby's performance partnership with the French outfit.
His dynamism with ball in hand and ability at the set-piece impressed onlookers, as he made 37 appearances across his spell in Federale 1.
A graduate of the FOSROC Scottish Rugby Academy, Bain was also a part of the Scotland U20 side that recorded a best-ever finish of fifth at the 2017 World Rugby U20 Championship.
Signing his new deal, Bain told glasgowwarriors.org: "I've really enjoyed my time at the Warriors - all the boys are really great to be around.
"It's exciting times ahead with the club and there are a lots of young boys coming through.
"For me, I'm looking to build on my performances from this season and continue to fight for a place in the 23."
On the signing of Bain, Danny Wilson said: "It's great to retain another Scottish second-row for next season.
"Hamish has had a few opportunities this year and has stepped up well both on the pitch and in training.
"He's a hardworking second rower and we look forward to having him with us next season."