Faulkner, who was born in Doncaster, has agreed to a one-year deal with the League One newcomers, with a one-year extension option.
It follows extended negotiations after his representative suggested the 20 year-old would reject the new deal offered following the conclusion of last season.
“I’m delighted to have the opportunity to play for my boyhood club once again,” he said. “I’m really glad to get it done.
“I’ve not been around as much as I’d have liked in the last 12 months but the gaffer has obviously kept close tabs on me and what I’ve been doing and he’s pleased with that.
“He can see the development in me and I’m just ready to kick on and try to get into the team.”
And McCann believes the former academy prospect has the potential to kick on and be a club regular.
“We see Bobby being a huge part of the furniture of this football club if he progresses in the way we think he can,” said McCann.
“He’s a boy with a high ceiling, a Donny lad who has been here through the academy, so I’m really pleased he has signed a new deal.
“It’s over to him now to stamp his mark and try to get involved in our first team.”
After spending his youth career in local grassroots football, Faulkner joined the Rovers Academy at U16 level while studying at Club Doncaster Sports College but quickly caught the eye of senior coaching staff and was rewarded with a professional contract at the age of 17
When he made his senior debut in the 2022–2023 season, he made 22 appearances and scored twice, marking his breakthrough.
Before making many appearances for National League North team Buxton in the second half of the previous season, Faulkner played the first half of the season on loan with Dundalk in the League of Ireland.
