Three days before he was scheduled for a hearing, Stoll agreed to terms with the Oilers on a two-year contract. Financial terms were not disclosed.
"We are pleased to have Jarret under contract for the next two years," Oilers assistant general manager Scott Howson said. "He has emerged into a solid two-way player at an early stage in his career and we believe he will continue his development into a top forward in the NHL."
One of three Oilers to appear in all 82 games last season, Stoll enjoyed the best campaign of his three-year career. The Saskatchewan native registered career highs in goals (22), assists (46) and points (68).
Stoll, 24, finished third on the team in scoring during the regular season and added four goals and six assists in the Oilers' playoff run to the Stanley Cup Finals, where they lost in seven games to Carolina.
A 2002 second-round pick, Stoll has tallied 32 goals and 58 assists in 154 career games.