Goaltender Martin Biron will remain the backup to Henrik Lundqvist for the next two years.
Biron and the New York Rangers agree to a two-year deal worth $2.6 million on Friday.
The 34-year-old Biron was set to become an unrestricted free agent on Sunday.
Last season, he put up a 12-6-2 record with a 2.46 goals- against average, a .904 save percentage and two shutouts.
Drafted by the Buffalo Sabres in the first round (16th overall) of the 1995 NHL Entry Draft, Biron was traded to the Philadelphia Flyers for a second round selection in 2007. He signed with the New York Islanders as an unrestricted free agent on July 22, 2009 before joining the Rangers the following season.