Martinelli scored four goals with 17 assists in 61 games last term.
Prior to his arrival in Belfast the 30-year-old played for the the OHL’s London Knights and the University of Western Ontario. He has also iced in Italy, Norway and Germany.
Martinelli said: “I’m really happy to be back and excited to spend another season in Belfast chasing trophies.”
“Coming into the new season, I know what to expect from the league. I’m expecting more from my own performance and hoping to be able to contribute even more than last year.
“The league will be stronger next season and I’m looking forward to it. Adam Keefe will do a great job as head coach – he knows what it takes to win in this league.”
Keefe added: “Ryan is a great guy to have around the locker room. He is a big guy who skates well and is mean in front of the net. He is a winner, who won a league title in Germany.
“I know many Giants fans really took to Ryan last season as he plays hard for the team every night. We are excited to have him return.”
(Image permission: Press Eye)