OTTAWA, Ontario -- The Senators have locked up another one of their top young players, agreeing to an eight-year, $66.8 million contract extension with center Tim Stutzle, the team announced Wednesday.

The deal, which carries an average annual value of $8.35 million and kicks in after the 2022-23 NHL season, is the latest move by general manager Pierre Dorion to solidify Ottawa's core.

Selected No. 3 overall in the 2020 draft with the pick received in the Erik Karlsson trade with the San Jose Sharks, Stutzle has 34 goals and 87 points in 132 NHL games.

The 20-year-old German player finished second on the Senators with 58 points (22 goals, 36 assists) in 79 appearances in 2021-22.

The Senators previously signed captain Brady Tkachuk, center Josh Norris, winger Drake Batherson and defenseman Thomas Chabot to long-term deals.

"Tim is a dynamic offensive player who utilizes an exceptional blend of speed and skill to be a consistent difference-maker," Dorion said in a statement. "He's electrifying and has quickly become a fan favorite for good reason."

Ottawa, which has failed to make the playoffs since reaching the 2017 Eastern Conference finals and has gone through a major rebuild, made news earlier this summer by acquiring forward Alex DeBrincat in a trade with the Chicago Blackhawks and signing veteran forward Claude Giroux in free agency.

The Senators, who finished with 73 points last season, also traded goaltender Matt Murray to the Toronto Maple Leafs before acquiring Cam Talbot from the Minnesota Wild as his replacement.