Pavel Kubina has been traded to the Atlanta Thrashers.
The Leafs will receive defenceman Garnet Exelby and winger Colin Stuart, while Atlanta also gets the rights to forward Tim Stapleton.
The trade with Atlanta will save Toronto roughly $2 million in cap space for future moves.
Kubina, 32, has played the last three seasons in Toronto after signing a four-year contract with the Leafs three years ago to the day. He's set to earn $5-million next season.
He has spent the previous nine seasons with the Tampa Bay Lightning organization.
Kubina scored 14 goals and 40 points last season.
The native of Celadna, Czech Republic played in the 2004 NHL All-Star Game and he was a key member of Tampa Bay's Stanley Cup winning team in 2004.