The deal was announced Tuesday, the day after the Wild acquired Staubitz from San Jose for a fifth-round pick in this weekend's draft.
Staubitz would have been a restricted free agent. He will make $550,000 this season and $600,000 next season.
The 25-year-old Staubitz had three goals, three assists and 110 penalty minutes in 47 games last season for the Sharks, his first full NHL season. The 6-foot-1, 210-pound native of Edmonton, Alberta, went undrafted and made his NHL debut in 2008.
The Wild have been trying to add more gritty players, and Staubitz fits that role as a frequent fighter. He did not appear in any playoff games for the Sharks this year.