The 29-year-old from Quebec finished second with a score of 82.18 after three runs at the Genting Snow Park on Saturday behind gold medalist Walter Wallberg of Sweden who scored 83.23. Japanese skier Ikuma Horishima took bronze with 81.48 points.
Kingsbury had come into the finals after placing in top position in the qualifying round with 81.15 points.
This was the Canadian’s third Olympic medal in men’s moguls and Team Canada’s second medal at the Beijing Olympics.
The native of Deux-Montagnes, Que., who captured gold at PyeongChang 2018 and silver at Sochi 2014, became the first-ever male moguls skier to reach the podium at three consecutive Olympics.
Norway’s Kari Traa won bronze in women’s moguls at the 1998 Nagano Games, gold in 2002 at Salt Lake City and then silver at the 2006 Turin Olympics.
Alex Bilodeau of Rosemere, Que., remains the only moguls skier to successfully defend his Olympic title. Bilodeau won back-to-back golds for Canada at the 2010 Vancouver Games and 2014 Sochi Games.
Earlier on Saturday, Canada’s Isabelle Weidemann won the bronze medal in the women’s 3,000-metre speedskating race.
— with files from The Canadian Press