Markstrom has a record of 19-7-2, including five shutouts, with Utica this season. He has made one appearance with the Canucks, surrendering three goals on four shots in a 6-2 loss to San Jose on March 3.
Markstrom has a record of 12-28-5 with a 3.25 goals-against average in 48 career NHL games.
To make room for Markstrom, the Canucks reassigned goaltender Joacim Eriksson to Utica.
Hutton, 21, recorded 21 points (nine goals, 12 assists) and 14 penalty minutes with the University of Maine this season.
He has 28 goals and 37 assists in 108 career total NCAA games with the Black Bears.
The six-foot-three 200-pound native of Prescott, Ont., was selected by Vancouver 147th overall in the 2012 NHL draft.