Dieng is averaging 13 points, 13.5 rebounds and 1.5 blocks as a starter through the first two games of the 2016-17 season. The 6-foot-11, 250-pounder is landing a hefty raise, as he is making $2.3 million in the final year of his rookie contract.
By signing Dieng, the Wolves lock in their center for the future to go alongside 2016 NBA Rookie of the Year Karl-Anthony Towns in the post.
Dieng averaged 10.1 points, 7.1 rebounds and 1.2 blocks in his third NBA season with the Wolves last season.
The 21st pick in the 2013 NBA draft was acquired by the Wolves on a draft day trade along with the draft rights to forward Shabazz Muhammad for the draft rights to guard Trey Burke on July 27, 2013. Dieng would have been a restricted free agent next summer if he had not reached an agreement by midnight ET on Monday.