Ilya Kovalchuk will return to the KHL for one more season, the veteran Russian forward's agent Jay Grossman confirmed with SI.com's Mike Morreale on Tuesday.
News of Kovalchuk's decision was first reported by Larry Brooks of The New York Post.
New Jersey Devils - who own the Russian forward's rights - made a push to bring Kovalchuk back to the NHL and find potential suitors to trade him, but no deal could reportedly be worked out by Devils general manager Ray Shero and Kovalchuk's agent, Jay Grossman.
The 34-year-old hasn’t played in the NHL since the 2012-13 lockout-shortened season. He put up 11 goals and 20 assists in 37 games that year.
Kovalchuk returned to the KHL in the third year of a 15-year contract with the Devils worth $100 million, but he will be eligible for unrestricted free agency in the NHL next July 1. Over the last four seasons with St. Petersburg SKA, he has 222 points in 209 games.
In 816 career NHL games, Kovalchuk has 417 goals and 399 assists.