It is worth $687,500 at the NHL level or $207,500 at the AHL level.
Irving played seven NHL games last season and registered his first career win on Dec. 23 in a 3-1 victory at Vancouver. He had a .912 save percentage and a 3.20 goals against average with a 1-3-3 record.
"At last year’s training camp, I was ready to compete for a job, but I had no idea whether I was able to compete at that level. Just because you have success in the American League, it’s a whole other league when you get to the NHL," Irving said, according to the Calgary Sun. "It was only seven games, but that’s a huge stepping stone in my career and for my confidence, in general."
Miikka Kiprusoff is the Flames starting goaltender.
Irving, 24, was a first-round pick (No. 26) by Calgary in the 2006 NHL Draft. He was 30-24-2 for the Abbotsford Heat of the American Hockey League in 2010-11.
"Leland made some great strides last season in attempting to establish himself as being ready to carry the load as the backup goaltender in Calgary," Flames general manager Jay Feaster said in a statement. "At the same time, in order for us to have the success we want as a team, it will be necessary for our backup goalie not merely to start 20-plus games but also to win more than half those starts. We are pleased to have Leland under contract for the upcoming season and look forward to what should be a hard-fought and spirited battle in training camp between Leland and Henrik Karlsson."