The 26-year-old appeared in 72 games this past season with Philadelphia and the Los Angeles Kings. In 566 career games, Schenn has 28 goals and 100 assists with three teams. He was selected fifth overall by the Toronto Maple Leafs in 2008.
Schenn played his first four seasons with the Maple Leafs, before getting traded to Philadelphia for James van Riemsdyk. He was also traded this past January, as the Flyers sent him to the Kings for Jordan Weal and a draft pick.
The blue-liner has 1,773 hits in his career, making him a viable asset on the Coyotes' blue line. Arizona's general manager John Chayka called Schenn "a good, young player" and a "solid addition."