The team announced the deal Thursday.
The signing was first reported by sports network RDS in Montreal and The Star Tribune in Minneapolis.
Latendresse was slated to become a restricted free agent Thursday.
In 78 games last season, Latendresse had 27 goals and 13 assists. In a four-year career with the Montreal Canadiens and Wild, he has 73 goals and 49 assists.
Pierre LeBrun covers the NHL for ESPN.com. Information from The Associated Press was used in this report.