The team announced the move Monday.
The 22-year-old Helm has yet to score a regular-season NHL goal but scored two in last year's playoffs as the Red Wings made their run to the championship.
The native of St. Andrews, Manitoba, appeared in 16 games for the Red Wings this season and has one assist. In 55 games with the Grand Rapids Griffins of the American Hockey League, Helm scored 13 goals and 24 assists for 37 points.
The Red Wings start the playoffs Thursday with a home game against the Columbus Blue Jackets.