Montano arrived at the Mem last summer after a seasons spell at America de Cali in his native Colombia. He made 31 appearances for Darrell Clarke's promotion winning side last season chipping in with two goals.
On agreeing his new deal, Cristian told us "I'm delighted to have re-signed for the club, Rovers gave me the opportunity to return home from Columbia and all the boys made me instantly welcome and I thank them all for that.
"The gaffer [Darrell Clarke] gave me my opportunity after Christmas, and I really appreciate his faith. I did my very best to take it and play my part in the promotion push which ended fantastically in that final day at the Memorial Stadium.
"Finally the biggest thank you to the fans who have always supported me and we look forward to taking on League One together."
Montano becomes the eighth player from the promotion winning squad to agree a new contract with the club, following teammates Steve Mildenhall, Daniel Leadbitter and Billy Bodin, James Clarke, Lee Mansell, Mark McChrystal and Ellis Harrison.