Contract terms were not disclosed, but a report by the Tennessean said he will get nearly $2 million.
The 24-year-old Tootoo, Nashville's sixth choice and the 98th overall pick in the 2001 NHL draft, already has reached career highs with 13 overall points (seven goals and six assists) in 41 games this season.
"Since we drafted Jordin in 2001, we have seen him blossom into a complete player, as evidenced by his gradual increase in production since breaking into the NHL," General Manager David Poile said on the team's Web site. "Jordin is a physical player that can not only get under opponents' skin and draw penalties but has proven he can score at this level as well."
The Churchill, Manitoba, native currently is on the injured reserve list with a hip injury and is expected to miss one to three weeks.
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