Ottawa defenseman Erik Karlsson signed a seven-year contract with the Senators on Tuesday that reportedly is worth $45.5 million, according to NHL.com.
Karlsson, 22, was a Norris Trophy finalist and is scheduled to get married in two weeks.
Karlsson led all NHL defensemen with 78 points in 81 games . Winnipeg's Dustin Byfuglien and Florida's Brian Campbell finished tied for second, well behind Karlsson, with 53 points.
Karlsson, Nashville's Shea Weber and Boston's Zdeno Chara as finalists for the Norris Trophy, which will be announced Wednesday at the NHL Awards show.
Senators coach Paul MacLean said he does not believe the contract, which will pay Karlsson about $6.5 million per season, will stop Karlsson from improving.