Pouliot had two years left at a salary-cap hit of $4 million. By buying out Pouliot, Edmonton saves $2.67 million against the cap the next two years.
It's the latest move by the Oilers to clear cap space with big-money deals for MVP Connor McDavid and forward Leon Draisaitl coming. Draisaitl's new contract starts next year, and McDavid's -- which could come in at around $100 million -- would begin in 2018-19.
Pouliot, 30, had 84 points in 180 games in three seasons with Edmonton, his sixth NHL team.