The Rangers announced Thursday that Dubinsky, who was slated to have an arbitration hearing Thursday morning, has agreed to a four-year deal worth a reported $16.8 million. His cap hit will be $4.2 million.
"I wanted to be in New York, it's the place I live, it's the place I love and I want to be here forever," Dubinsky told the New York Post. "At the end of the day, I think it's a home run for me. I hope the team feels the same way."
The 25-year-old center led the Rangers in both goals (24) and points (54) last season -- both career highs -- and had 100 penalty minutes. He also had 2 goals and an assist in New York's first-round playoff series loss to Washington, which lasted five games.
New York's second-round draft choice (No. 60) in 2004, Dubinsky has 71 goals and 108 assists in 316 NHL games. Since his rookie season in 2007-08 in which he scored 40 points, Dubinsky's point total has increased each season.
Dubinsky's re-signing is the latest in a slew of moves the Rangers made this summer. In the beginning of July, the Blueshirts landed unrestricted free agents Brad Richards and Michael Rupp.
"I can't even tell you how much I'm looking forward to the season," Dubinsky said. "With all the guys we have coming back plus the signings we've made with Richie [Richards] and Mike Rupp, I think we're going to be a contender in the East; I really feel that way."
The Rangers still need to sign restricted free agent Ryan Callahan, whose arbitration hearing is set for next Thursday.
Dubinsky will now be an unrestricted free agent when his contract ends following the 2015-16 season.