Out of contract at the end of the season, the Newquay born back-rower has been rewarded for his efforts with another 12 months at the Liberty Stadium.
Speaking after signing his new contract, the experienced Bearman said:
"I'm really happy about getting another year. I'm feeling good and I'm pleased that the coaches think that I can still do a job for the team. There are plenty of youngsters in the squad so I'm expected to add a bit of experience in and around the place, day-in, day-out and, to be honest, I'm enjoying myself more than ever.
"There's a buzz around the place at the moment, a real purpose about what we are doing, and I'm grateful that I can continue to play a part here. I enjoy coming to work each morning, working with the younger guys and maybe helping them out as they develop. To me that's as fulfilling as being out there on the pitch on a match day and I want to continue doing that.
"We've still got everything to play for this season, with a massive run of games coming up. It's crucial that we make sure the great work that's been done so far this season doesn't go to waste, we've got a duty to make sure we are in a strong position for the end of season push."
Bearman signed for the Ospreys in the summer of 2011, since when he has proven to be a consistent performer and influential member of the squad.
He made his debut for the region coming off the bench in a 32-14 win over Ulster in September 2011, with his first start two weeks later as the Ospreys defeated Munster 17-13. Having helped the region to a fourth league title the following May, he has 84 Ospreys appearances to his credit to date, scoring four tries.
Andrew Millward, Rugby General Manager, said:
"Joe has been excellent for us. He's an old stager, one of the experienced guys, but he's still in great condition and is able to add something to the mix, particularly during those periods when we are missing as many as four or five international back row players.
"He's a good personality to have in our environment who can be a positive influence on the youngsters. When the going gets tough, Joe does get going. You know that you can rely on him to front up, dragging the younger players along with him, and there are times in the season when you need experienced players with that mentality."
Bearman follows on from Jeff Hassler, Tyler Ardron and Justin Tipuric in signing new contracts this season, while the Ospreys have also confirmed the return of Wales prop, Paul James, and the capture of former All Black scrum half, Brendon Leonard, both of whom will join up with the region next season.
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