Twenty-one-year-old Grimsby-born Collins enjoyed an excellent first season with Mansfield in 2016/17.
The former Reading man became an essential part of the Stags` under-21s side and was regularly given the captain's armband.
Comfortable with both feet, Collins provides an excellent link between back and front and isn't afraid to shoot from distance.
He spent a month on loan with Ferriby`s league rivals Gainsborough Trinity at the start of this season, making four starts and one substitute appearance.