Truax will arrive in Happy Valley with one year of eligibility remaining.
Lilledahl is the No. 2-ranked wrestler in the Class of 2024, according to FloWrestling.
The Penn State wrestling legend is scheduled to compete against Tresean Gore at the UFC 290 pay-per-view.
Since 2010, Cael Sanderson's expectation of dominance and execution sets the standard for collegiate wrestling.
The legendary wrestler finished his career with a 101-10 record and two national titles.
Fans can vote for the award until 6 p.m. on Friday, March 24.