Financial terms of the deal were not disclosed.
Gerbe set career highs with 16 goals, 15 assists and 31 points in 64 games for the Sabres last season. He got hot down the stretch, scoring 15 goals in the team's final 40 games.
Gerbe also set a Sabres franchise record for the fastest two goals when he scored twice just five seconds apart during a January 21 game against the New York Islanders.
(Reporting by Gene Cherry in Raleigh, North Carolina; Editing by Frank Pingue)