The Wild announced on Monday night they signed the UMass Lowell defenseman, regarded as one of the best unrestricted free agents in college hockey.
The news was first reported by ESPN's Craig Custance.
The announcement came during the first period of Minnesota's game with Los Angeles.
Bob McKenzie of TSN reported earlier this week that the Wild, Oilers and Lightning all had interest, but according to Erik Erlendsson of the Tampa Tribune, the Bolts were no longer interested as of Monday afternoon.
The sophomore officially became available to NHL teams when his Riverhawks lost in the regionals of the NCAA Tournament to Boston College.
Originally from Sweden, Folin is a big, mobile defenseman who scored six goals with 14 assists this season for UMass Lowell, which recently won the Hockey East championship.