Michaelis, 24, was the WCHA Offensive Player of the Year in 2019-20, racking up 20 goals and 24 assists in 31 games while captaining the Mavericks to a 31-5-2 record.
"Marc has exceptional offensive instincts and proven leadership," Canucks general manager Jim Benning said. "We look forward to adding his skill and playmaking ability to the franchise."
The 5-foot-10, 185-pound forward has represented his native Germany several times on the international stage, including the 2015 world juniors, and the 2018 and 2019 World Championships.
Vancouver also inked forward Will Lockwood, the club's third-round pick in 2016, to a two-year pact.
Lockwood recently finished a four-year career at the University of Michigan, captaining the Wolverines to an 18-14-4 record in his senior year. He broke out in his junior year, tallying 16 goals and 15 assists in 36 games. He took a step back in 2019-20, though, recording just 23 points in 33 contests.
"Will is a hardworking, two-way winger with natural scoring ability," Benning said. "He plays with urgency and creates chances for himself and his teammates. We look forward to adding his speed and tenacity to our roster."