The 31-year-old Wales and British & Irish Lions flanker took over from Alun Wyn Jones as the skipper of the region in 2018. Jones had led the Ospreys since 2010.
His re-appointment was confirmed by new head coach Toby Booth and comes six months after the 76-times capped Wales back row man signed a new three-year deal with the only senior professional team he has ever played for.
“I’ve got some unfinished business as captain after the way last season went for us. It was frustrating not being able to play many games because I was away with Wales at the World Cup,” said Tipuric.
“I wanted to be involved much more, rather than be watching on from afar. Not being out on the pitch was the boys was difficult.
“It is like a fresh start for us with new coaches, new ways of playing and new training facilities. It is like being at a new club.
“Toby has told us what he wants and where he wants to take us. Not much has been said about last year – we know what went bad.
“We are improving every day in training and hopefully we can on and become better and better. Nobody is worrying about what happened last season and everyone is just buzzing to get back.”
Booth will be without long term injured outside halves Gareth Anscombe and Luke Price, as well as Wales centre Scott Williams, for the game against the Dragons.