Arvidsson, who was a restricted free agent, had an arbitration hearing in Toronto on Saturday but the sides agreed to a contract prior to the arbitrator's ruling.
The 24-year-old forward tied for the Predators lead in goals (31, with Filip Forsberg) and points (61, with Ryan Johansen) and had 30 assists last season. Arvidsson scored 45 points more than he did the previous season, the second biggest increase in the NHL (Connor McDavid, Edmonton Oilers, 52 points to 100).
Arvidsson had 13 power-play points (four goals), led the NHL with five shorthanded goals and tied for first with seven shorthanded points. He finished second on Nashville with six game-winning goals (Forsberg, nine) and a plus-16 rating (Ryan Ellis, plus-17), and had 13 points (three goals, 10 assists) in 22 Stanley Cup Playoff games to help the Predators reach the Stanley Cup Final for the first time.
Selected by Nashville in the fourth round (No. 112) of the 2014 NHL Draft, Arvidsson has 77 points (39 goals, 38 assists) in 142 games.
The Predators have an arbitration hearing scheduled with forward Austin Watson on July 24. Goalie Marek Mazanec was scheduled for a hearing on July 27 but agreed to a one-year, two-way contract Friday.
Johansen remains unsigned as a restricted free agent. The Predators have about $14.5 million in NHL salary cap space remaining, according to CapFriendly.com.
