The deal contains a modified no-trade clause in the final two years in which Dumba can submit a 10-team no-trade list, according to CapFriendly.
Dumba is coming off his best season in which he tallied 14 goals and 50 points while suiting up in all 82 games for the Wild. He logged a career-high 23:49 of ice time per contest while recording 136 hits and 112 blocks.
According to Corsica's player rating system, Dumba graded as the 34th-best defenseman last season, making him an elite No. 2 rearguard, and he's still just 23 years old.
Dumba was a restricted free agent and was scheduled to have an arbitration hearing on July 23. Forward Jason Zucker now remains the Wild's lone RFA.