The 22-year-old Bratt will make just over $2 million this season and $3.45 next season.
Bratt led the club in even-strength goals with 15 and set career highs with 16 goals and 101 shots last season. The Swede has 37 goals and 63 assists in 185 games with New Jersey.
Bratt was selected by New Jersey in the sixth round of the 2016 NHL draft. He was signed by the team on May 12, 2017, and made his NHL debut that Oct. 7 versus the Colorado Avalanche, notching his first career goal and assist.
Bratt's start to this season will be delayed. With the contract signed, he can now secure a work visa and travel to New Jersey. But he will need to be in a seven-day quarantine on arrival then would require four consecutive negative COVID-19 tests before being able to practice.
The Associated Press contributed to this report.