The winger joined the Potters three years ago from Real Zaragoza, initially on loan, but made only two appearances for the club last season, both in August.
He was sent out on loan to Wolves by then Stoke manager Tony Pulis and was frozen out of the first-team picture when he returned in January.
Pennant was released by the club when his contract ended, but Pulis was replaced in the hotseat by Hughes in May and the Welshman offered the player a one-year deal to stay.
He accepted and Hughes sees no reason why he cannot be a real asset for Stoke.
"He's been given another opportunity here," said the Potters boss.
"He loves the club, he didn't want to leave. He thought possibly he would have to but things change very quickly in football and he's got another chance.
"I'm sure he'll take it because he's a good guy and he works hard. I think people sometimes get the wrong impression of Jermaine but he wants to play football and he wants to make an impression for us."
Pennant was unable to travel with Stoke for their pre-season tour of the US because of his criminal record but looked lively in his first outing against Wrexham on Sunday.
Hughes said: "Unfortunately we couldn't take him to America, everybody understands the circumstances, but he's been with the under-21s and he's been first class.
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- Tony Pulis
- Real Zaragoza