Wood spent five years playing under Malthouse at the Magpies, although in 2013 he plied his trade with VFL club Williamstown after being delisted at the end of 2012.
A 204cm big man, Wood has played 64 AFL games, the first 16 of which with the Brisbane Lions.
A number of other delisted players also found new clubs in Wednesday's rookie draft.
Lamb heads to the Giants
Richmond selected ex-Port Adelaide midfielder Matt Thomas and former Brisbane Lions forward Todd Banfield, while ex-Gold Coast midfielder Maverick Weller was picked by St Kilda.
North Melbourne threw a lifeline to ex-Gold Coast forward Joel Tippett (the brother of Sydney Swans big man Kurt Tippett), who has recently been playing in the SANFL, while Hawthorn picked former Kangaroo Ben Ross.
Richmond selected ex-Port Adelaide midfielder Matt Thomas and former Brisbane Lions forward Todd Banfield, while ex-Gold Coast midfielder Maverick Weller was picked by St Kilda.
North Melbourne threw a lifeline to ex-Gold Coast forward Joel Tippett (the brother of Sydney Swans big man Kurt Tippett), who has recently been playing in the SANFL, while Hawthorn picked former Kangaroo Ben Ross.
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However, former Melbourne, Sydney Swans and Collingwood ruckman Darren Jolly, who was linked with St Kilda and Essendon, was not chosen.
The Saints also elected not to hand a rookie-list place to Ahmed Saad, who was recently suspended for 18 months for taking a banned stimulant.
Ex-Hawthorn forward Mitch Thorp was another notable nominee to miss out, despite the confidence of his manager, Liam Pickering.
It was a happier occasion for a number of talented teenagers who were ignored in last week's national draft.
Tasmanian Eli Templeton was picked by St Kilda, while Will Maginness was taken by West Coast and James Battersby is off to Adelaide.
Luke Reynolds, Dallas Willsmore and Nick Bourke, who are all graduates of the AFL-AIS Academy, were selected by Carlton, Hawthorn and Geelong respectively.
Former Lions speedster Todd Banfield will play for the Tigers in 2014. Picture: AFL Media
However, former Melbourne, Sydney Swans and Collingwood ruckman Darren Jolly, who was linked with St Kilda and Essendon, was not chosen.
The Saints also elected not to hand a rookie-list place to Ahmed Saad, who was recently suspended for 18 months for taking a banned stimulant.
Ex-Hawthorn forward Mitch Thorp was another notable nominee to miss out, despite the confidence of his manager, Liam Pickering.
It was a happier occasion for a number of talented teenagers who were ignored in last week's national draft.
Tasmanian Eli Templeton was picked by St Kilda, while Will Maginness was taken by West Coast and James Battersby is off to Adelaide.
Luke Reynolds, Dallas Willsmore and Nick Bourke, who are all graduates of the AFL-AIS Academy, were selected by Carlton, Hawthorn and Geelong respectively.
Former Lions speedster Todd Banfield will play for the Tigers in 2014. Picture: AFL Media
