TORONTO -- The Toronto Argonauts re-signed kicker/punter Swayze Waters to a two-year contract on Wednesday.
Waters, who became a free agent on Tuesday, elected to stay with the team he has been a part of since the 2012 season.
The club also announced the release of veteran kicker/punter Noel Prefontaine.
The 26-year-old Waters won the Grey Cup with Toronto in 2012, connecting on 32 of 43 field-goal attempts.
"We believe Swayze Waters has arguably the strongest leg in the CFL," Argonauts general manager Jim Barker said in a statement. "He has been a reliable player for our team and is a proven competitor."
A native of Jackson, Miss., Waters was hurt in the 2013 home opener but returned later in the season to go 18 for 25 on field-goal attempts, including a long of 50 yards.
"I am extremely happy to be staying in the Argonaut family," said Waters. "The team, fans and city have made this place feel like home and I am grateful."
Prior to joining the Argos, Waters spent time in the NFL with the Pittsburgh Steelers, Oakland Raiders and Detroit Lions.
A 16-year CFL veteran, Prefontaine spent parts of 14 seasons with Toronto. The 40-year-old from Camp Pendleton, Calif., was 15 of 24 last season on field-goal attempts for the Argonauts in Swayze's absence.
The Argonauts also re-signed non-import offensive lineman Wayne Smith and signed 2013 first-round pick Matt Sewell.
A 33-year-old Toronto native, Smith agreed to a two-year contract with the Argonauts. Sewell, a 24-year-old offensive lineman from Milton, Ont., signed on for the next three seasons.
Smith, a 10-year CFL veteran, has been with the Argonauts since 2012. He has also spent time with the Hamilton Tiger-Cats and Saskatchewan Roughriders.
Smith was the first overall pick in the 2004 CFL Canadian college draft.