Matthews, the No. 1 pick of the 2016 NHL Draft who has 205 points (111 goals, 94 assists) in 212 games during his first three seasons, is among the leading candidates in a group that includes defenseman Morgan Rielly, center John Tavares and unsigned restricted free agent forward Mitchell Marner.
The 21-year-old told The Athletic last month what being captain would mean to him.
"The captaincy in hockey in general is a huge honor, but especially in Toronto," he said in an interview published Aug. 23. "You see the names of the guys that have come before you. We have all the captain's banners lined up for us in our practice rink. You know the names, what they brought to the team, their competitiveness, what they did throughout the community, so it's a bit of a bigger honor, in my opinion, to bestow that in Toronto."