The National Hockey League and the NHLPA signed the memorandum of understanding which officially ends the lockout.
Training camps will open league-wide on Sunday, while the NHL schedule is expected to be released later on Saturday.
Teams will be eligible to make trades and signings Saturday at midnight et/9pm pt.
Earlier in the day the NHLPA announced that they ratified the new collective bargaining agreement reached with the league last week.
The NHL's Board of Governors already voted unanimously in favour of the new CBA proposal on Wednesday.
The NHL's new CBA is expected to be completed by the end of February. The league and NHLPA have agreed to meet over 10 consecutive days next month to finish off a document that will total several hundred pages.