Multiple reports said that he will earn $3 million.
Vanek, 34, has become a popular trade deadline acquisition the past few years, and he's produced all along the way.
After putting up 38 points in 48 games with Detroit in 2016-17, he was traded to Florida for its playoff push. Last season, he signed with Vancouver for $2 million and scored 41 points in 61 games before being acquired by Columbus.
With the Blue Jackets, he scored 15 points in 19 regular-season games and added two points in six playoff games as Columbus lost to Washington in the first round.
Vanek spent the first eight-plus years of his career with Buffalo, where he scored more than 40 goals in a season twice and was an All-Star in 2009.