The Canucks sent forward Tim Schaller, center Tyler Madden of Northeastern and a 2020 second-round draft pick for the 27-year-old Toffoli, who is an unrestricted free agent this summer. If Toffoli signs with the Canucks, the Kings will receive a conditional fourth-round pick in 2022.
Schaller has a $1.9 million cap hit, helping to offset the $4.6 million cap hit Toffoli carries.
A former 30-goal scorer, Toffoli has rebounded from a down offensive season with 18 goals and 16 assists in 58 games. That includes the three goals he scored Saturday in the Kings' Stadium Series victory over the Colorado Avalanche at the Air Force Academy, which made him the first player in NHL history to record a hat trick in an outdoor game.
"Toff had an incredible night," Kings coach Todd McLellan said after the game, Toffoli's last as a King. "He's got some poise. He's patient. It's nice to see him get rewarded. He's had some chances. He was a little snakebit. Normally, his numbers would be a little higher."
Toffoli can play both wings and brings something most of the young Canucks lack: a Stanley Cup ring, which he won with the Kings in 2014. He scored 14 points in 26 games during that run.
Schaller has six points in 51 games, playing 11:42 per game on average in a fourth-line role. Madden was drafted No. 68 overall by the Canucks in 2018 and is in his second season with Northeastern University. He's the son of former NHL center John Madden.
In other developments, the Canucks gave several injury updates Monday. Winger Brock Boeser suffered a rib cartilage fracture and is likely out for the rest of the regular saeson, and winger Micheal Ferland will miss the rest of the season because of concussion-like symptoms.