Lindholm signed his deal during a ceremony Monday at team headquarters.
The versatile forward will make $832,500 at the NHL level or $70,000 in the minors in each of the three years. He will receive a signing bonus of $277,500.
Hurricanes general manager Jim Rutherford says Lindholm will have the opportunity to start the season with the team "and I will be shocked if he doesn't." Rutherford says Lindholm can play all three forward positions.
Carolina took Lindholm with the fifth pick of the draft last month. The 18-year-old Lindholm had 11 goals and 19 assists last season in the Swedish Elite League.