Gustavsson, 25, was in his first season with the Wild during the 2022-23 campaign after being traded to them last summer by the Ottawa Senators, who acquired Cam Talbot.
The Skelleftea, Sweden native appeared in 39 games for Minnesota last season where he had a record of 22-9-7 along with a 2.10 goals against average, a .931 save percentage and two shutouts.
With Marc-Andre Fleury entering the final year of his contract and his future beyond this coming season unknown, it's likely that Gustavsson will take over the reigns in net in 2024 until top goaltending prospect Jesper Wallstedt is ready to play in the NHL full-time.
