Last season I traded a player away. We're currently in the offseason, and I have a chance to get him back via trade. However, this will be the final year on his contract.

My question is..will this player refuse to renegotiate a contract with my team because I've traded him away once? Anyone ever had a similar situation? Thanks in advance

It depends on his opinion of you. If he is "Livid", you have the entire season to get in his "good graces". (Letting him play helps tremendously.) Livid players are the only ones that will not sign contracts or extensions.
The fact that you have all season to do that will probably sway him enough to be able to negotiate a new contract by season's end.