SOG: 72 | +/-: -5
The arbitration hearing was scheduled for later Tuesday.
Hayes, who was a restricted free agent, had 11 goals and 18 points in 53 games for the Panthers in 2013-14 after arriving from the Chicago Blackhawks in a trade Nov. 14.
"We are pleased to have reached an agreement with Jimmy," general manager Dale Tallon said in a statement. "We look forward to his continued contributions to our team both on and off the ice."
Hayes, 24, has 17 goals and 31 points in 96 NHL games. He was a second-round pick (No. 60) in the 2008 NHL Draft and spent three seasons at Boston College before signing with Chicago.