Since joining Palace from Durham in the summer of 2021, Sharpe has made 49 competitive appearances for the Eagles, scoring 12 goals.
One of her most memorable efforts came during Women’s Football Weekend in March 2023, when Sharpe rocketed in the winner over Blackburn Rovers in front of a packed crowd at Hayes Lane.
Sharpe said: “I’m over the moon to sign for Palace again. This is going to be my third season and it’s a club where I feel really at home, surrounded by people I want to be with. There’s nowhere else I’d want to be at this point in my career.
“As a group, we want to better what we achieved last year and finish higher in the league this year. On a personal note, I just want to enjoy playing football. I’m an attacker and I like scoring goals and getting assists, so I have to look at achieving big things on the pitch this season.”
Head of Women’s Football Grace Williams said: “We’re delighted that Molly has extended her stay at Crystal Palace for a further year.
“Molly is a popular player and goalscorer with the Palace fans, staff and her teammates, and we look forward to her creating more memories in the red and blue next season.”