Having started last term in prison after being jailed for affray, Deeney returned to the Hornets fold to enjoy his first run-out at the end of September before going on to find the net an impressive 20 times in 43 appearances.
It represented the 24-year-old's best-ever tally as a professional but, after Watford lost out to Crystal Palace in the play-off final at Wembley, Deeney is determined to do even better in 2013/14 as the Hertfordshire club again strive to secure promotion from the Championship.
"To finish with 20 goals and play the best football of my career is a massive achievement," Deeney told the club's official website.
"I didn't have a pre-season last year, and with scoring 20 goals you can guarantee I'll be getting more attention next season.
"I've got to be bigger and better, because if defenders can get a clean sheet against me they'll see that as a job well done.
"The bar has gone up, but the standard that I have set myself is massive anyway, so I'm definitely going to be making sure this wasn't a one-off fluke."
Meanwhile, Watford have confirmed the number of season ticket holders for next term has broken the 10,000 barrier for the first time in over five years.