The two-way deal is worth $800,000 in the NHL, and $105,000 in the minors.
Svatos, 28, has been playing with Omsk Avangard of Russia's Kontinental Hockey League.
Last season, he had seven goals and four assists in 54 regular-season games with the Colorado Avalanche, who took him in the seventh round (No. 227 overall) in the 2001 draft.
Because he was playing overseas, Svatos is on waivers, so another NHL team can claim him before noon ET Wednesday.
Information from ESPN.com's Pierre LeBrun was used in this report.