Penner spent the past three seasons with the Los Angeles Kings. He had two goals and 12 assists last season and seven goals and 10 assists in 2011-12.
The 30-year-old left-winger had 32 goals and 31 assists during a career year in 2009-10 with the Edmonton Oilers. In 522 career NHL games, Penner has 137 goals and 138 assists.
Penner's deal is reportedly worth US$2 million. He previously made $3.25 million on a one-year contract with the Kings.
Penner spent his first two seasons with Anaheim.
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