It's a two-way deal, reports Sportsnet's Elliotte Friedman.
Ho-Sang will reportedly earn $700,000 at the NHL level and $225,000 in the AHL. He was scheduled to have an arbitration hearing on Oct. 30.
The 2014 first-round pick registered 13 points in 19 AHL games last season. He didn't appear in the NHL during the 2019-20 campaign.
Ho-Sang has tallied 24 points in 53 career games across three NHL seasons.
The 24-year-old winger requested a trade last season but one didn't materialize.