Fast, who was set to be a pending unrestricted free agent, had his deal announced with less than 30 minutes left before free agency opens Saturday. CapFriendly projects the Canes will have $18.8 million available in cap space.
Fast signed with the Hurricanes in free agency three years ago after six-plus years with the New York Rangers. The 31-year-old finished with 10 goals and 29 points in the 2022-23 regular season and had nine points in 15 playoff games to help the Hurricanes reach the Eastern Conference final, where they lost to the Florida Panthers.
The two-way forward was also a key member of the Hurricanes' penalty kill, which was the No. 2 unit in the NHL with an 84.4% success rate. Fast was one of five forwards to log more than 100 minutes on the kill.