Financial terms were not disclosed.
The 18-year-old defenseman was selected by Arizona with the No. 11 pick in the 2019 NHL Draft after he had seven points (four goals, three assists) for Brynas IF of the Swedish Hockey League, the most by a player under the age of 18 in the league last season.
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"Victor is a highly skilled player and an elite prospect," Coyotes general manager John Chayka said. "We are very pleased to get him signed and look forward to having him come to training camp and compete for a spot on our roster."
Soderstrom (6-foot, 182 pounds) also had one assist in four games to help Sweden win the 2019 IIHF World Under-18 Championship.
"I'm very excited to sign with the Coyotes," Soderstrom said. "It's a dream come true for me and my family. The Coyotes are a first-class organization and I look forward to playing for them in the future."
