Rice, a former assistant at Gonzaga, is 77-54 in four seasons at Boise State, leading the team to 20 or more wins three times. The Broncos went 21-13 in 2013-14.
The Idaho Statesman reports that with Rice returning, the Broncos are expected to have a strong core back, led by Anthony Drmic and Derrick Marks, ranked seventh and 11th, respectively, on the school's all-time scoring list.
Rice signed a contract extension last year that pays him $482,000 per year, with a 3 percent increase each season.
After winning more than 20 games this season, it earned him an automatic one-year extension through the 2018-19 season.