The 22-year-old forward was a restricted free agent and had not reported to training camp. He will practice Sunday.
"We are excited to have Miles under contract for the next four years," general manager Ray Shero told the Devils website. "With his style of play, he's a big part of what we are collectively building here in New Jersey, now and in the future."
Wood had NHL career highs in goals (19), assists (13), points (32) and games (76) last season. He had no points in five Stanley Cup Playoff games.
New Jersey selected Wood in the fourth round (No. 100) of the 2013 NHL Draft. He has 49 points (27 goals, 22 assists) in 137 NHL games. He is the son of Randy Wood, who played 11 NHL seasons with the New York Islanders, Buffalo Sabres, Toronto Maple Leafs and Dallas Stars.
