The winger is finalizing a six-year, $18-million deal to remain in Buffalo, Sportsnet’s Elliotte Friedman reported Sunday.
Malenstyn has spent the past two seasons with the Sabres. In 2025-26, he had seven goals and seven assists in 81 games played.
The 28-year-old also appeared in 13 playoff games and had three points (one goal, two assists).
Malenstyn was drafted by the Washington Capitals 145th overall in 2016. The Capitals traded him to Buffalo in the 2024 off-season for the second-round pick that ended up being Cole Hutson, brother of Montreal Canadiens star Lane Hutson.
In 262 career NHL games, Malenstyn has 19 goals and 29 assists for 48 points.