Financial terms were not released Friday.
The 5-foot-9 Miele had 16 goals and 38 assists in his first professional season for Phoenix's AHL affiliate in Portland, Maine. His 54 points led the Pirates last year.
Miele made his NHL debut with Phoenix last Oct. 23 at Anaheim and played in seven regular-season games for the Coyotes.
The 24-year-old Miele was the 2011 Hobey Baker Award winner as college hockey's top player. He led the NCAA in scoring with 24 goals and 47 assists in just 39 games for Miami (Ohio) University in the 2010-11 season.