The agreement is a two-way deal for the 2022-23 season and a one-way deal for 2023-24. At the NHL level, Gustafsson's contract carries an average annual value of $775,000.
The 22-year-old played in a pair of games for the Jets last season, though the majority of his year was spent with the organization's American Hockey League affiliate, the Manitoba Moose. He skated in 47 games for Manitoba, scoring 15 times and adding 15 assists. Gustaffson played in all five of the Moose's playoff games as well, contributing one assist.
A native of Tingsryd, Sweden, Gustaffson was a second-round pick of the Jets in the 2018 NHL Draft. Throughout his entire NHL career, he has appeared in 28 games and scored once.
He has represented Sweden internationally on multiple occasions, highlighted by a gold medal at the 2016 World U-17 Hockey Challenge and bronze at both the 2018 World U-18 Championships and the 2020 World Juniors.