The 27-year-old stand-off joined Glasgow from Melrose in 2011 and this new deal means he'll be at Scotstoun until at least May 2014.
Wight has made 22 appearances for the Warriors and has scored 69 points.
Scott Wight said: "I've only ever wanted to stay in Glasgow and I'm very happy to have signed this new deal for next season.
"There is a lot of competition for places at the club, but that is healthy as it pushes you on and makes you a better player.
"I've really enjoyed the last couple of years in Glasgow and I believe we can only get better next season."
Glasgow Warriors head coach, Gregor Townsend said: "We're delighted to keep Scott here next season, which reinforces the competition within our squad for the number 10 jersey.
"Scott is one of our most consistent performers in training and has an excellent understanding of the game.
"I'm sure he will be doing all he can to stake a claim throughout the season and seize any opportunity that comes his way."
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