Hagman went unclaimed after being placed on waivers Thursday to make room on the 23-man active roster for Mikael Backlund, who missed the club's first 14 games with a broken finger.
In eight games for the Flames this season, Hagman has notched a goal and three assists. The 31-year-old Finn had 11 goals and 16 assists in 71 games last season for Calgary.
Hagman has played in 106 games for the Flames since being acquired in a January 31, 2010 trade with Toronto. He has 139 goals and 282 points in 707 NHL games for Florida, Dallas, Toronto and Calgary.