Visnovsky, 36, has three goals and six assists in 22 games with the Islanders this season, and he's been on ice for 34 of the 59 goals scored by New York in those games. He could have become an unrestricted free agent on July 5.
The Islanders acquired Visnovsky from the Anaheim Ducks on June 22, 2012, in exchange for the Islanders' second-round selection in the 2013 NHL Draft. He played the previous three seasons with the Ducks and led all NHL defensemen with 68 points in 2010-11.
The signing is quite a turnaround for Visnovsky, who filed a grievance to void the trade that sent him to the Islanders, citing a previously agreed upon no-trade clause, but an arbitrator ruled against him.
Visnovsky played in the Kontinental Hockey League during the work stoppage and did not report to the Islanders until Feb. 6 for personal reasons. His family subsequently joined him on Long Island, and Visnovsky has recently expressed happiness with his situation.
"Lubo loves New York," his agent, Neil Sheehy, tweeted minutes before the signing was announced.
A native of Topolcany, Slovakia, Visnovsky has played for his country in three Winter Olympics, with four goals and four assists in 16 games.