The 29-year-old defenseman set NHL career highs in goals (14), assists (29) and points (43) in 82 games with the Wild last season. He could have become an unrestricted free agent after this season.
"I honestly hadn't even thought about unrestricted free agency," Spurgeon said. "I've always said I wanted to stay here and we want to win, and that's the main thing. When (general manager) Bill [Guerin] came in, like I said, he had a plan in place and what he said hit home for me.
"I think everyone will try to tell themselves they're not going to worry about it, but once you get into the season, it'll be in the back of your mind, and if things aren't going as well, I think you might be pressuring yourself more. Like I said, it happened pretty quick, I'm happy it's done."
Selected by the New York Islanders in the sixth round (No. 156) of the 2008 NHL Draft, Spurgeon didn't sign with them and was signed as a free agent by the Wild on Sept. 23, 2010.