The 21-year-old centre-back agreed a deal that will keep him with the Alex until the summer of 2017.
Ray made his debut in Crewe's Johnstone's Paint Trophy final victory in 2013 and has made 31 appearances for Steve Davis's side so far this season.
He has also won two international caps for Wales's Under-21 side.
Restore Data
| Team | P | W | D | L | F | A | GD | PTS | |
| C | Stockport CountyStockport | 46 | 27 | 11 | 8 | 96 | 48 | 48 | 92 |
| P | Wrexham | 46 | 26 | 10 | 10 | 89 | 52 | 37 | 88 |
| P | Mansfield TownMansfield | 46 | 24 | 14 | 8 | 90 | 47 | 43 | 86 |
| 4 | MK Dons | 46 | 23 | 9 | 14 | 83 | 68 | 15 | 78 |
| 5 | Doncaster RoversDoncaster | 46 | 21 | 8 | 17 | 73 | 68 | 5 | 71 |
| 6 | Crewe AlexandraCrewe | 46 | 19 | 14 | 13 | 69 | 65 | 4 | 71 |
| 7 | Crawley TownCrawley | 46 | 21 | 7 | 18 | 73 | 67 | 6 | 70 |
| 8 | BarrowBarrow | 46 | 18 | 15 | 13 | 62 | 56 | 6 | 69 |
| 9 | Bradford CityBradford | 46 | 19 | 12 | 15 | 61 | 59 | 2 | 69 |
| 10 | AFC Wimbledon | 46 | 17 | 14 | 15 | 64 | 51 | 13 | 65 |
| 11 | Walsall | 46 | 18 | 11 | 17 | 69 | 73 | -4 | 65 |
| 12 | Gillingham | 46 | 18 | 10 | 18 | 46 | 57 | -11 | 64 |
| 13 | Harrogate TownHarrogate | 46 | 17 | 12 | 17 | 60 | 69 | -9 | 63 |
| 14 | Notts County | 46 | 18 | 7 | 21 | 89 | 86 | 3 | 61 |
| 15 | Morecambe | 46 | 17 | 10 | 19 | 67 | 81 | -14 | 58 |
| 16 | Tranmere RoversTranmere | 46 | 17 | 6 | 23 | 67 | 70 | -3 | 57 |
| 17 | Accrington StanleyAccrington | 46 | 16 | 9 | 21 | 63 | 71 | -8 | 57 |
| 18 | Newport CountyNewport | 46 | 16 | 7 | 23 | 62 | 76 | -14 | 55 |
| 19 | Swindon TownSwindon | 46 | 14 | 12 | 20 | 77 | 83 | -6 | 54 |
| 20 | Salford City | 46 | 13 | 12 | 21 | 66 | 82 | -16 | 51 |
| 21 | Grimsby Town | 46 | 11 | 16 | 19 | 57 | 74 | -17 | 49 |
| 22 | Colchester UnitedColchester | 46 | 11 | 12 | 23 | 59 | 80 | -21 | 45 |
| R | Sutton UnitedSutton | 46 | 9 | 15 | 22 | 59 | 84 | -25 | 42 |
| R | Forest Green RoversForest Green | 46 | 11 | 9 | 26 | 44 | 78 | -34 | 42 |
| > League Two Full Table | |||||||||
