The 23-year-old defenseman, who was a restricted free agent, had an NHL career high in assists and points (14) in 53 games last season. He was also second among Ottawa defenseman in power-play points (six), and fifth in average ice time per game (19:46).
"Erik is among our group of young players who we're looking upon to take another step forward next season," general manager Pierre Dorion said. "He's competitive, has an ability to efficiently move the puck and showed well when asked to take on an increased role last season. We're hopeful that experience pays dividends for him in the year ahead."
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Selected by the Vegas Golden Knights in the first round (No. 15) of the 2017 NHL Draft, Brannstrom was acquired by the Senators as part of the trade for forward Mark Stone on Feb. 25, 2019.
In 116 regular-season games with Ottawa, Brannstrom has 31 points (two goals, 29 assists).
