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| RESTRICTED | |
| Player | Contract |
| Sean Brown (D) | Signed a one-year (plus option) contract Aug. 15. |
| Mike Grier (RW) | Signed a two-year contract Aug. 16. |
| Josh Green (LW) | Signed an undisclosed contract July 13. |
| Roman Hamrlik (D) | Traded to the New York Islanders June 24. |
| Dan LaCouture (LW) | Signed a one-year contract Aug. 23. |
| Georges Laraque (RW) | Signed a three-year contract Sept. 7. |
| Todd Marchant (C) | Signed a two-year contract Aug. 8, avoiding salary arbitration. |
| Ethan Moreau (LW) | Signed a three-year contract Aug. 24. |
| Rem Murray (LW) | Signed a three-year contract Sept 5. |
| Alain Nasreddine (D) | Signed an undisclosed contract Aug. 31. |
| Brad Norton (D) | Signed a one-year contract July 26. |
| Jason Smith (D) | Signed a two-year contract Aug. 11, avoiding salary arbitration. |
| Ryan Smyth (LW) | Signed a three-year contract Sept. 23. |
| Igor Ulanov (D) | Signed a one-year contract July 27. |
| Doug Weight (C) | Signed a one-year contract Sept. 7. |
| UNRESTRICTED | |
| Player | Contract |
| Kevin Brown (RW) | Signed an undisclosed contract with the Manchester Storm (BISL). |
| *Boyd Devereaux (C) | Signed a three-year contract with the Detroit Red Wings Aug. 23. |
| Mike Minard (G) | Signed an undisclosed contract with the St. John's Maple Leafs (AHL). |
| Rob Murray (C) | Signed a multi-year contract with the Philadelphia Flyers July 24. |
| Frank Musil (D) | Signed a one-year contract with the Edmonton Oilers Sept 26. |
| Michel Picard (LW) | Signed a two-year contract with the Philadelphia Flyers Aug. 14. |
| *Alexander Selivanov (RW) | Signed one-year contract with the Columbus Blue Jackets Nov. 22. |
| German Titov (LW) | Signed multi-year contract with the Anaheim Mighty Ducks July 1. |
| Bill Ranford (G) | Retired April 24. |
| Vladimir Vorobiev (RW) | Signed an undisclosed contract with the Severstal Cherepovets (RUS). |
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*
Selivanov and Devereaux were not made a qualifying offers by the Oilers.