The forward, who had a hat trick in a 5-2 win against the New Jersey Devils on Thursday, has 689 goals, one fewer than Hall of Famer Mario Lemieux, who is No. 10 on the all-time list.
Ovechkin, who has five goals in his past two games, is three goals behind Steve Yzerman for ninth place and five behind Mark Messier for eighth.
The Capitals, who lead the Metropolitan Division, have won two straight and are 5-2-0 in their past seven games, will play their final game before their NHL-mandated five-day break; they don't play again until Jan. 27 at the Montreal Canadiens.
Goalie Thomas Greiss could start for the Islanders after Semyon Varlamov allowed three goals on 28 shots in a 3-2 loss to the New York Rangers on Thursday. The Islanders are 1-2-1 in their past four games after going 4-2-0 in their previous six.