Reichel's three-year deal runs through the 2023-24 season with a $925,000 salary-cap hit. General manager Stan Bowman said Reichel made "tremendous strides" during his second year with Eisbären Berlin in Germany's top professional league.
"The game appeared to slow down for him this past season, which allowed his playmaking skills to be on full display," Bowman said in a release. "Bringing him over to North America is the logical next step for his continued development and we're excited to be able to add such a young, dynamic player to our forward group."
Reichel, 19, was selected by Chicago with the No. 17 pick in last year's draft. He had 10 goals and 17 assists in 38 games with Eisbären Berlin this season, and then added two goals and three assists in nine playoff appearances while helping his team win the DEL championship.
Reichel also played for Germany at this year's world championships, finishing with two goals and four assists in nine games.