The goalkeeper's original contract expired at the start of this month but he will now remain with McCall's group for the forthcoming campaign.
Cracknell becomes the latest City player to commit his future to Valley Parade after James King and Nathan Clarke also recently penned one-year contracts with the Bantams.
The trio's contract extensions comes in the same week that Nicky Law and Nathaniel Knight-Percival both joined up with the club on permanent transfers.
The 22 year-old shot-stopper acted largely as an able deputy to Ben Williams in the goalkeeping department last season.
The former Hull City and Scarborough 'keeper also impressed in the Bantams' reserves during the 2015/2016 campaign as well, playing a significant role in the club's Final Third Development West Division title win.