The contract is valued at $1.45 million, with a $725,000 average annual value.
Sturm made his season debut on Dec. 17, recording his first NHL point on Dec. 19 against the Arizona Coyotes. The 25-year-old posted two assists in six games during the 2019-20 regular season.
He made his Stanley Cup Playoff debut in Game 3 of the Wild's qualifying-round series against the Vancouver Canucks, and later scored his first NHL goal in Game 4. He is the second player in franchise history to record his first NHL goal in the playoffs.
The Augsburg, Germany, native signed as a free agent with the Wild in April 2019.