On June 2, 2010, Schneider signed a two-year, $1.8 million contract extension with the Vancouver Canucks. Assistant general manager Laurence Gilman asserted that the new deal should establish him as Luongo's backup and garner more exposure to potentially facilitate a trade to another NHL team. He made his first start of the 2010–11 season on October 18, 2010, against the Carolina Hurricanes. He stopped 32 shots in a 5–1 win, marking his first NHL victory since December 14, 2008. Later in the season, he recorded his first NHL shutout, stopping 26 shots in a 3–0 win against the Anaheim Ducks on March 6, 2011. Nearing the end of the regular season, the Canucks were leading the league in team GAA, putting Luongo and Schneider in contention for the William M. Jennings Trophy. However, with a week remaining in the regular season, Schneider was two appearances short of the 25-game minimum to qualify for the Jennings (had he not reached the requirement, Luongo would have been awarded the trophy by himself). While head coach Alain Vigneault initially dismissed the notion of playing Schneider for the sole purpose of sharing the award with Luongo, he sent Schneider in relief of Luongo with 28 seconds remaining in the third-last game of the season, a 2–0 loss to the Edmonton Oilers for Schneider's 24th appearance. Two games later – the Canucks' last contest of the regular season – Schneider was given the start against the Calgary Flames. Needing to allow seven goals or fewer to secure the Jennings, he helped Vancouver to a 3–2 overtime win. It marked the first time in the trophy's history that it was awarded to Canucks goaltenders. Luongo and Schneider's combined GAA of 2.20 was 0.10 better than the Boston Bruins' second-place goaltending tandem of Tim Thomas and Tuukka Rask. Schneider completed his NHL rookie season with a 2.23 GAA and .929 save percentage in 25 games (22 starts), as well as a 16-4-2 record. His GAA tied for fourth in the league, while his save percentage ranked third and set a single-season Canucks record.