The announcement came during a groundbreaking ceremony for the campus' $40 million Midco Arena that will house the team.
Construction for the state-of-the-art, 3,000-seat arena is being fueled by a lead gift from South Dakota billionaire and philanthropist T. Denny Sanford, Midco, Sanford Health and other key donors.
"Augustana's program is the first of its kind in the state," said Sanford, founder of First Premier Bank. "Sioux Falls needs a great college hockey program and under the leadership of president Stephanie Herseth Sandlin, Augustana is the place to make it happen."
Kevin Westgarth, NHL Vice President of Hockey & Strategic Collaboration, lauded Sanford's gift and welcomed Augustana to the NCAA Division I men's hockey family. Fifty-nine Division I men's hockey programs are set to compete this season.
"Augustana University, with the generous support of Denny Sanford, is taking a bold step today, breaking ground on a new facility here on its campus in Sioux Falls," Westgarth said. "The shovel's first cut into the earth is not just the beginning of the foundation of a building, but a foundation of a community. The NHL is proud to support the Vikings in this effort and applaud their ongoing commitment to their students and their city."