Minnesota also received forward Cody McCormick for forward Torrey Mitchell, a second-round pick in the 2014 NHL Draft (previously acquired from the Winnipeg Jets) and a second-round pick in the 2016 NHL Draft.
Moulson was one of the top players expected to be available on NHL Trade Deadline day. He has 17 goals and 38 points in 55 games this season, which began with the New York Islanders before he was traded to the Sabres as part of a trade for Thomas Vanek in late October.
A 30-year-old left wing, Moulson is scheduled to be an unrestricted free agent at the end of the season. He had 11 goals and 29 points in 44 games with the Sabres after spending nearly his entire career playing next to John Tavares with the Islanders.
McCormick, who turns 31 next month, has one goal and five points in 29 games for the Sabres. He is scheduled to be a UFA at the end of the season.
Mitchell, 29, has one year left on his contract with an average annual value of $1.9 million. He has one goal and nine points in 58 games this season.