The 37-year-old Boyle can become an unrestricted free agent on July 1. The Sharks will receive a fifth-round pick from New York, but that will bump up to a fourth-round selection if Boyle signs with the Islanders before next season.
Boyle earned just under $7 million with the Sharks this season. He led the club's defencemen with 36 points and 12 goals in 75 games and added four assists in San Jose's first-round, seven-game playoff loss to Los Angeles.
In 954 regular-season NHL games over 15 years with Florida, Tampa Bay and San Jose, Boyle has 144 goals and 417 assists.