Sakic won $1 million on Sunday by making a hole-in-one on the par-3 17th at the American Century Celebrity Golf Championship at Lake Tahoe in Stateline, Nev.
He used an 8-iron on the 162-yard waterfront hole where dozens of yachts and boats anchor during the annual three-day tournament.
Sakic will take home half the check, with the other $500,000 going to Lance Armstrong's Livestrong Foundation for cancer research. The money comes from an insurance policy purchased by the tourney's sponsor.
The former NHL MVP and two-time Stanley Cup winner said he had never come close to making a hole-in-one before.
Material from wire services was used in this report