After leading the Edmonton Oilers to a Stanley Cup Final appearance last season, Leon Draisaitl has agreed to a contract extension that will make him the highest-paid player in the NHL.

The Oilers announced on Tuesday that Draisaitl will sign an eight-year deal worth $14 million per season.

The $14 million annual salary for Draisaitl is the highest in NHL history. The total value of $112 million is the second-richest in league history, trailing only Alex Ovechkin's 13-year, $124 million deal that was signed in January 2008.

Draisaitl is just the seventh player who has receive a contract extension worth at least $100 million. He is the first player to get one since the Colorado Avalanche signed Nathan MacKinnon to an eight-year, $100.8 million deal in September 2022.

Edmonton now has two players who have signed $100 million deals. Connor McDavid has two years remaining on his eight-year, $100 million extension that was signed back in July 2017.

The Draisaitl-McDavid pairing has formed one of the most impactful duos in NHL history. Since they joined forces starting with the 2015-16 season, they have combined for 1,843 points in 1,327 games.

Prior to selecting Draisaitl with the No. 3 pick in the 2014 draft, the Oilers had missed the playoffs in eight consecutive seasons. They finished last in their division five times during that span.

The Oilers have made the postseason in six of the past eight seasons, including each of the previous five years. They advanced to the Stanley Cup Final last season for the first time since the 2005-06 campaign.

Edmonton became just the third team in NHL history to force a Game 7 in the Stanley Cup Final after falling behind 3-0 in the series. The last time it happened was 1945 when the Detroit Red Wings did it against the Toronto Maple Leafs.

The Oilers were unable to complete the historic comeback with a 2-1 loss at Florida in the decisive seventh game.

Draisaitl racked up 31 points in 25 games for the Oilers during that postseason run. The 28-year-old has put up at least 40 goals and 100 points in five of the past six seasons.