Love, who originally joined the Panthers late in the 2014 season, has played 25 games over the last two seasons, posting 35 tackles and 4.5 sacks in that span.
Love is the fourth defensive lineman to re-sign this offseason, joining defensive ends Mario Addison, Charles Johnson and Wes Horton. The Panthers also retained defensive tackle Kawann Short by applying the franchise tag.
Carolina provided an additional boost to the defenisve front by signing defensive end Julius Peppers.