The Edmonton Oilers have completed a key piece of off-season business.

The Oilers re-signed star defenceman Evan Bouchard to a four-year, $42-million US contract Monday, according to multiple media reports.

The hard-shooting Bouchard, known for his "Bouch Bomb" from the point, was set to become a restricted free agent when the market opened Tuesday at 10 a.m. MT.

The 25-year-old from Oakville, Ont., earns a massive raise on his previous $3.9-million salary cap hit after back-to-back high-production seasons to help Edmonton into the Stanley Cup final twice.

Bouchard, drafted 10th overall by the Oilers in 2018, broke out with 18 goals and 64 assists across 81 games in 2023-24 before adding 32 points in 25 games during the playoffs.

Last season, he tallied 23 points in 22 playoff games after a 67-point regular season.

Only Bobby Orr (1.243) has a higher points-per-game average among defencemen than Bouchard's 1.08 in the post-season.

Bouchard becomes the NHL's fourth-highest-paid defenceman next season, behind Erik Karlsson, Drew Doughty and Rasmus Dahlin.

Earlier Monday, the Oilers re-signed winger Kasperi Kapanen to a one-year, $1.3-million US contract.

Kapanen, 28, had 13 points in 57 regular-season games and added six more in 12 playoff appearances after being claimed off waivers from the St. Louis Blues.

The Oilers also signed centre Noah Philp on Monday to a one-year, two-way contract worth $775,000.

Philp, 26, appeared in 15 games for Edmonton last season and recorded two assists.

The Canmore, Alta., native had 35 points, including 19 goals, in 55 games with the AHL's Bakersfield Condors.

Edmonton forwards Corey Perry, Connor Brown and Jeff Skinner, along with defenceman John Klingberg, remain unsigned and are set to become unrestricted free agents.