The 23-year-old joined the Tigers from Manchester United in 2011.
Despite a promising start to his career at the KC Stadium, injuries have limited Dudgeon to just 13 appearances during the past two seasons.
"It's all about focusing on the future now. You can't keep thinking about the past. You can learn from it but you have to move on," he told the club's official website.
"This is a fresh start now and I want to show everybody that I still want to be here and I want to play."
Hull are due to get their Premier League campaign underway at Queens Park Rangers on August 16.