The Terps are the highest-ranked Big Ten team.
The Terps bring back 93 percent of their offense from last season.
Frese is set to coach her 20th season at Maryland in 2021-22.
The Terps face conference challengers Indiana, Michigan and Ohio State twice.
Frese's new contract includes a base salary of $1.4 million.
Three late goals helped the Terps beat their rivals and clinch their third Big Ten championship.
The Terps suffered a litany of injuries in the lead up to their Big Ten tournament defeat on Wednesday.
The Terps' keeper registered four saves and came up clutch in penalties.
Costes knocked the go-ahead, two-run single in the sixth inning as the Terps picked up their third straight win.