Draisaitl, from the WHL's Prince Albert Raiders, is six-foot-one and 208 pounds and has drawn comparisons to Anze Kopitar of the Kings and Jaromir Jagr of the Devils.
The Cologne native had 38 goals and 67 assists this past season for Prince Albert.
Draisaitl, who has said he would like to work on his defensive game and faceoffs, could be NHL-ready right away. If he develops as scouts expect, he would fit in as the Oilers' No. 2 centre behind Ryan Nugent-Hopkins.
We're buyers. We're committed to winning. That's what [owner Vinnie Viola] has said all along and what we've said all along. We want to win. We want to win a championship. We're putting the pieces together, step by step, and we're hopeful that Jaromir can lead these young guys to the promised land. It's a win-win for us.
— Panthers GM Dale Tallon on Jaromir Jagr, who he traded for from the Devils on Thursday