The one-way deal has an average annual value of $874,125 at the NHL level.
"Marcus is a smart, reliable defenseman who improved our defensive corps after coming over from Anaheim last year," said Rutherford. "We are fortunate to have a good, young defenseman of his caliber in our top-six."
Pettersson, 23, was acquired from the Anaheim Ducks on December 3, 2018 and provided excellent two-way play during the 2018-19 season, notching career highs in goals (2), assists (23), points (25), and plus-minus (+17). Across the league, Pettersson ranked second in assists and third in both points and plus-minus among rookie defensemen.
The 6-foot-3, 177-pound Pettersson also had the distinction of playing in 84 regular season games during the 2018-19 season. He became just the eleventh player since 1995-96 (when the NHL switched to an 82-game format) to play in 84 contests. He also skated in all four of Pittsburgh's 2019 playoff games, recording his first playoff point (assist) in Game 3 of the First Round against the New York Islanders.
Pettersson was drafted 38th overall in 2014 NHL Draft by Anaheim. He made his North American debut with the Ducks during the 2017-18 season, recording one goal and three assists in 22 games. He also skated in 44 games for the San Diego Gulls of the American Hockey League, recording the team's second highest plus-minus (+7) while also providing 14 assists. Pettersson also dressed for all four of Anaheim's playoff games.
Prior to joining the Ducks organization, the Skellefteå, Sweden native played four seasons for his hometown team, Skellefteå AIK. There, he skated in 111 games across four seasons, tallying four goals, 12 assists, and 16 points, along with a plus-15.
Pettersson represented his home country at the 2019 World Championship, playing in eight games and providing one assist. He also represented Sweden at the 2016 World Junior Championship, contributing four assists in seven games, and won gold with Sweden during the 2013 World Under-17 Hockey Challenge.