Folin will join the team in Washington on Wednesday.
The 29-year-old had been sent down to the Rocket on February 17. Prior to that, Folin had played two games with the Canadiens after his most recent call-up on February 3. He averaged 12:43 of ice time in those two games, recording one goal.
The native of Gothenburg, Sweden has played seven games with Montreal this season, totalling two points (1G, 1A) and a plus-1 differential and averaging 15:02 of ice time per game.
Folin was acquired from the Philadelphia Flyers along with Dale Weise in exchange for David Schlemko and Byron Froese in February 2019.