The three-year deal is worth $9.25 million. He'll earn $2.5 million in 2012-13, $3 million in 2013-14 and $3.75 in 2014-15. Foligno was dealt to Columbus by the Ottawa Senators in exchange for defenseman Marc Methot on July 1.
Foligno, who entered the off-season as a restricted free agent, has produced 61 goals, 148 points and 299 penalty minutes in 351 career NHL games with the Senators. In 2011-12, he set career highs with 32 assists, 47 points and 124 penalty minutes in 82 games. He notched a goal and four points in seven games in the Stanley Cup Playoffs.
"Nick is a versatile, durable two-way player who at age 24 is coming off the best season of his career," Blue Jackets general manager Scott Howson said. "We're excited about what he will add to our group of forwards and are very happy to have him join our hockey club."
The 24-year-old native of Buffalo, N.Y., was a first-round pick (No. 28) of the Senators in 2006.