It carries an average annual value of $3 million, reports Sportsnet's Elliotte Friedman.
The 23-year-old collected 16 points while averaging 20 minutes of ice time over 51 games this season. He played alongside Norris Trophy front-runner Adam Fox for much of the campaign before being shut down for the Rangers' final three games due to injury.
Lindgren was a pending restricted free agent carrying a cap hit of $925,000. He's played all three of his NHL seasons with New York. The Boston Bruins drafted Lindgren 49th overall in 2016 before trading him to the Rangers in the Rick Nash deal nearly two years later.