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| RESTRICTED | |
| Player | Contract |
| Eric Brewer (D) | Signed a one-year, $907,500 contract Aug. 15. |
| Sean Brown (D) | Oilers exercised one-year, $625,000 contract option June 29. |
| Daniel Cleary (LW) | Signed a three-year, $2.7 million contract July 30. |
| Josh Green (LW) | Signed a one-year, $726,000 contract July 30. |
| Chris Hajt (D) | Signed an undisclosed one-year contract July 30. |
| Jochen Hecht (C) | Signed a three-year, $3.2 million contract contract July 30. |
| Janne Niinimaa (D) | Signed a three-year, $8.5 million contract Aug. 3, avoiding salary arbitration. |
| Tom Poti (D) | Signed a one-year, $925,000 contract Oct. 17. |
| Marty Reasoner (C) | Signed a two-year, $1.5 million contract Aug. 1. |
| Michel Reisen (RW) | Traded to the St. Louis Blues July 1. |
| Brian Swanson (C) | Signed an undisclosed two-year contract Aug. 9. |
| Doug Weight (C) | Traded to the St. Louis Blues July 1. |
| Sergei Zholtok (C) | Traded to the Minnesota Wild June 29. |
| UNRESTRICTED | |
| Player | Contract |
| Sven Butenschon (D) | Signed a one-year contract with the Edmonton Oilers Aug. 1. |
| * Patrick Cote (LW) | Signed undisclosed contract with the Laval Chiefs (QSPHL). |
| Rory Fitzpatrick (D) | Signed an undisclosed contract with the Buffalo Sabres Aug. 14. |
| * Joaquin Gage (G) | Signed an undisclosed contract with the Scottish Eagles (BISL) Aug. 2. |
| Brett Hauer (D) | Signed a two year contract with the Los Angeles Kings July 2. |
| Paul Healey (RW) | Signed an undisclosed contract with the Toronto Maple Leafs July 24. |
| Eric Heffler (G) | Signed an undisclosed contract with New Haven Knights (UHL) Oct. 19. |
| Frantisek Musil (D) | Retired |
| Alain Nasreddine (D) | Signed a one-year contract with the Edmonton Oilers Aug. 1. |
| Brad Norton (D) | Signed an undisclosed contract with the Florida Panthers July 27. |
| Dominic Roussel (G) | Signed undisclosed contract with the Lasalle Rapides (QSPHL). |
| Terran Sandwith (D) | Signed an undisclosed contract with the Belfast Giants (BISL) Aug. 2. |
| Igor Ulanov (D) | Signed a three year, $6 million contract with the New York Rangers July 1. |
| * Brian Urick (RW) | Unsigned - did not play for any major league during 2001-2002 season. |
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*
Oilers did not exercise contract options.