Elias, who was set to become an unrestricted free agent Friday, has spent his entire 17-year career with the Devils and is the franchise's all-time leader in goals (375) and assists (555). He ranks third in franchise history with 1,089 games played.
"I'm excited to sign a new contract and be back with New Jersey," Elias said in a statement released through his agent.
Elias, 37, led the Devils with 36 points last season, registering 14 goals and 22 assists in 48 games.
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