Warner, 39, led the Cardinals to the NFC Divisional Playoffs this season, his 12th in the NFL and fifth with Arizona.
Amid speculation he would retire, Warner absorbed a vicious hit by New Orleans' defensive end Bobby McCray in a 45-14 loss to the Saints during the playoff game.
His resume includes two MVP awards and three Super Bowl appearances, one a 23-16 St. Louis Rams' win over the Tennessee Titans at Super Bowl XXXIV on Jan. 30, 2000 in Atlanta.
He started 15 games this season, passing for 4,583 yards, 30 touchdowns with 14 interceptions.
Also, the four-time Pro Bowl selection was sidelined by a concussion in the regular season.
In his career, Warner has 32,344 passing yards, 208 touchdowns, with 128 interceptions.