Minnesota native Tom Gilbert is returning to his home state, joining the Wild in a trade with the Edmonton Oilers.
The defenceman Gilbert, 29, leaves the Oilers after over five seasons.
Edmonton receives defender Nick Schultz in return.
Oilers coach Tom Renney said it's unlikely Schultz would play Monday night in Winnipeg.
Gilbert has three goals and 14 assists in 47 games this season. He achieved a career high of 45 points in 2008-09.
Edmonton originally acquired him in a deal in 2003-04 with Colorado, one in which goalie Tommy Salo went the other way.
Schultz leaves the only NHL team he's ever known, after 681 career games. He's compiled 25 goals, 100 assists and 292 penalty minutes in that time.
"We [the Oilers] were playing them when they were playing their best hockey and that was frustrating," Gilbert told Hockey Night in Canada Radio shortly after he learned of the trade. "It was tough to get goals and that’s why they were so successful [at the beginning of the season]."
Known as a top shot blocker, he has a goal and three assists in 62 games this season.
Schultz has two more seasons left on his contact, with a cap hit of $3.5 million US each season.
Gilbert's six-year deal runs out at the end of 2013-14, with a cap hit of $4 million every season.