The contract is worth $650,000 at the NHL level and $105,000 at the American Hockey League level with a guarantee of $300,000 for 2012-13.
Blum, 23, had seven points in 33 games for the Predators last season. In 48 games with the AHL’s Milwaukee Admirals, he had 26 points.
The 6-foot-1, 191-pound blueliner debuted with the Predators in 2010-11, playing 23 regular-season games before participating in all 12 of the team’s 2011 Stanley Cup Playoff contests.
In 56 career regular-season NHL games, Blum has 15 points.
Blum became the first native of California (Rancho Santa Margarita) to be selected in the first round of the NHL Draft when Nashville selected him No. 23 in 2007.