The 26-year-old Schneider was set to become a restricted free agent on Sunday.
Schneider took over in goal for Vancouver starter Roberto Luongo in this year’s playoffs as the Canucks were upset in the first round by the Los Angeles Kings.
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The Canucks have made it known this off-season that they are looking to trade Luongo and the remaining 10 years on his mammoth contract.
Schneider earned US$900,000 last year and is due for a hefty raise.
#NHL signing. Canucks agree on new 3 year deal worth 12M with G Cory Schneider. 4M is his new cap hit.