Melbourne gained Pedersen and selection No.74 and gave North Melbourne midfielder Jordan Gysberts and pick No.63.
Pedersen, 25, played 16 matches for the Roos from 2011-12. He also kicked 20 goals.
After starring at VFL level, the 193 cm tall was selected by North Melbourne in the 2011 NAB AFL Rookie Draft (held in December 2010).
Pedersen played 14 of his 16 matches in 2011, and gained North Melbourne’s best first year player award.
He kicked 18 goals at an impressive 78.3 per cent conversion rate.
In 2012, Pedersen won the best and fairest award for Werribee - North Melbourne’s affiliate in the VFL.
Gysberts played 19 matches, including one in 2012, for the Demons from 2010-12.