Kinasewich, the team's leading scorer for the past three seasons, is the first signing announced during the offseason.
"In three years with us, he has always been near the top of the league in scoring and shooting," said head coach Jason Christie. "He is also a great leader for our locker room. Last year, he also earned a much deserved promotion to Bridgeport for 24 games."
The Grizzlies are the ECHL affiliate of the NHL's New York Islanders and their AHL affiliate in Bridgeport.
Kinasewich is the third-leading scorer in the organization's 14-year history, with 91 goals and 113 assists for 204 points in 148 games. This past season, he had 23 goals and 37 assists.
"It's my fourth year in Utah and it's good to be back," Kinasewich said. "It feels like home and I feel I fit in well with the organization."