Lightning general manager Steve Yzerman announced the signing Tuesday on the team's website.
Purcell had a career year last season, with 26 goals and 41 assists. He played on the Lightning's top line for much of the season. The 26-year-old led the Lightning with a plus-9 rating.
Tampa Bay acquired Purcell from Los Angeles on March 3, 2010, for center Jeff Halpern and a 2010 third-round draft pick.