The New Jersey Devils and star forward Timo Meier have agreed to an eight-year, $70.4 million extension through the 2030-31 season, the team announced hours before Wednesday's NHL draft.

Acquired from the San Jose Sharks in February, Meier was a restricted free agent who scored a career-high 40 goals this past season. The 26-year-old was an All-Star for the Sharks in 2021-22 and finished that season with 35 goals and a career-high 76 points in 77 games.

"We were excited to acquire Timo at the (trade) deadline, but it's an even greater feeling knowing that he'll be here for the next eight seasons," Devils executive vice president/general manager Tom Fitzgerald said in a statement. "Timo's unique blend of style of play, goal-scoring ability, and physical presence will prove valuable for us."

Meier is the second key player the Devils have locked up on a long contract this offseason. The team previously signed forward Jesper Bratt to an eight-year, $63 million deal earlier this month.

"In talking with him, Timo realised, and I always believed, that this is the right place for him as a player and a person," Fitzgerald said. "We've locked up another piece of our young core that is looking to take that next step together for greater success."

New Jersey also acquired 34-goal scorer Tyler Toffoli from the Calgary Flames on Tuesday to add another proven forward to one of the NHL's up-and-coming teams. After missing the playoffs for four consecutive seasons, the Devils won a franchise-record 52 games in 2022-23 and reached the Eastern Conference semifinals.

The ninth overall pick of the 2015 draft, Meier has recorded 163 goals and 167 assists in 472 career regular-season games and has reached the 30-goal mark in three of his seven NHL seasons. The Swiss native posted nine goals and five assists in 21 regular-season games for New Jersey following the trade, though he managed only two goals in 11 playoff games.