Mangiapane was a restricted free agent and had an arbitration hearing set for Oct. 20. His new deal carries an average annual value of $2.425 million.
The 24-year-old tallied career highs with 17 goals and 15 assists over 68 games in 2019-20 after signing a one-year pact worth $715,000 with the Flames last offseason. He added two goals and five points through 10 playoff contests.
Calgary selected Mangiapane in the sixth round of the 2015 NHL Draft.