The British outfit have opted to retain Sargeant for a second campaign despite his troubled 2023 season.
Sargeant, who scored just one point throughout the season, will race alongside Alex Albon, with the London-born Thai's place already announced.
"I am thrilled to be continuing with Williams Racing for the 2024 season," he said on Friday.
"It has been an incredible journey with the team so far and I am grateful for the opportunity to continue developing as a driver within such a talented and dedicated group.
"We have exciting plans for the future and I can't wait to contribute to the team's success in the coming year."
Sargeant claimed his maiden point in Formula 1, the first American to score in the sport since Michael Andretti 30 years ago for McLaren, after Lewis Hamilton and Charles Leclerc were both disqualified from the United States Grand Prix in Austin in October.
Albon finished the year with an impressive 27 points to help Williams land seventh in the constructors' championship, the team's best result for six seasons.
"I am pleased to continue our journey with Logan into 2024," said team principal James Vowles.
"Logan has demonstrated immense skill whilst under the pressure of the world stage, making him a perfect fit for our team.
"We have great confidence in his abilities and believe that together we can achieve even greater success in the upcoming season."
The Formula 1 season will start in Bahrain on March 2nd.
