The salary cap will rise by $2 million for the 2017-18 season to an upper limit of $75 million, the NHL and its players' union announced Sunday.
The lower limit is set at $55.4 million, while the adjusted midpoint is $65.2 million, according to the joint announcement.
The expansion Vegas Golden Knights must spend at least to the salary floor in their first season.
The cap upper limit was $73 million last season. In 2015-16 it was $71.4 million, while it was $69 million for the 2014-15 season.
The Associated Press contributed to this report.