The 26-year-old defenseman could have become an unrestricted free agent Oct. 9. He scored 14 points (seven goals, seven assists) in 55 games this season but did not have a point in Minnesota's four-game loss to the Vancouver Canucks in the Stanley Cup Qualifiers.
"We're really happy with the deal with Carson," Wild general manager Bill Guerin said. "We wanted him back. It was an unfortunate situation in many ways when he broke his wrist (Feb. 21). … We had a good negotiation with his agent, and I really feel like we came out with a fair deal and both sides are happy. Most importantly, we keep Carson Soucy. He's a very good young defenseman."
Selected by Minnesota in the fifth round (No. 137) of the 2013 NHL Draft, Soucy has 14 points in 58 NHL games.
Soucy is the second defenseman signed by the Wild in the past month. Jonas Brodin signed a seven-year, $42 million contract extension (average annual value $6 million) with the Wild on Sept. 15 that begins with the 2021-22 season.
On Monday, the Wild also signed forward Nico Sturm to a two-year, $1.45 million contract ($725,000 average annual value) and traded forward Ryan Donato and goalie Devan Dubnyk to the San Jose Sharks in separate trades.
The Wild received a third-round pick in the 2021 NHL Draft for Donato and a fifth-round pick in the 2022 NHL Draft for Dubnyk from the Sharks, who received a seventh-round pick in 2022 along with the 34-year-old goalie.
Sturm scored 32 points (12 goals, 20 assists) in 55 games with Iowa of the American Hockey League and had two assists in six regular-season NHL games this season. He scored one goal in two postseason games for the Wild.
NHL.com senior writer Dan Rosen contributed to this report