Boyes has one more year left on his contract at $4 million.
Boyes is a former 40-goal scorer for the Blues whose production has slipped in recent years but who could provide the offensive impetus that the Sabres need to jump into the playoff bracket in the NHL's Eastern Conference.
Boyes, originally a Toronto Maple Leafs prospect, has seen his goal production decline from a high of 43 goals in 2007-08. He had 12 goals in 61 games for the Blues this season.
The Sabres have been traditionally conservative at the trade deadline but with the recent confirmation of Terry Pegula as owner GM Darcy Regier has been given more latitude to put a winner on the ice.
Scott Burnside covers the NHL for ESPN.com.