Soaps In Depth first reported the news of Miller's new deal on Twitter. The magazine has since gone on to reveal that Miller's contract is a one-year deal.
Earlier this year, Miller was rumored to be leaving The Young and the Restless.
In addition to his Emmy win, Miller is extremely popular with fans, as evidenced by his five soapcentral.com Dankies Awards wins earlier this year.
Miller debuted on The Young and the Restless in September 2008, becoming the fourth actor in six years to play the role of Billy. Prior to joining Y&R, Miller appeared for a year on ABC's All My Children.