The Sabres announced the move Saturday, while a person familiar with the Maple Leafs' decision told The Associated Press about Marincin.
Elie was placed on waivers for demotion to the minors a day after playing a team-low nine shifts in a 7-3 loss to Chicago. He played his second consecutive game after being a healthy scratch in Buffalo's previous seven.
Elie has one assist in 16 games since being waived by Dallas and claimed by the Sabres on Oct. 2.
Marincin becomes the odd man out after Toronto acquired defenseman Jake Muzzin in a trade with Los Angeles on Monday. The sixth-year player has two assists in 10 games this season and will be assigned to the minors should he go unclaimed.