After what is being called another protracted negotiation process, Emmy winner Jess Walton (Jill Abbott) and show executives have reached a deal that will have Walton remaining on The Young and the Restless.

Walton announced the news to fans on her official Facebook page.

"I am indeed renewing my contract at Y&R," she posted. "The show has been very accommodating to me during this move to Oregon and I love them for it!"

Walton recently moved from her home in California to Oregon, and some fans worried that the actress' distance from The Young and the Restless' Los Angeles-based studio might mean that she was exiting the show.

Walton's new contract comes three years after another lengthy contract negotiation. In 2009, Walton rebuffed a request to take a pay cut and walked away from Y&R. It wasn't until the actress had some time to clear her mind -- and learned that CBS had canceled Guiding Light -- that she decided to sign her name on the dotted line and remain with The Young and the Restless, a show she's called home for more than 20 years.

"It had to do with my family and this economy," Walton explained in an interview with Tulsa World at the time. "I felt so bad that so many people have lost their jobs, that, all of a sudden, I thought: 'This is really silly. I have a wonderful job and I really think I owe it to myself and my family to continue on.'"

Walton joined the cast of The Young and the Restless in June 1987. She assumed the role from Brenda Dickson, who originated the role in 1973.