The deal will pay the former first overall pick $6 million per season starting in the 2013 2014 campaign.
Locking Hall up to a multi year deal was the first step in keeping the core together for an extended period.
Oilers sign Hall to
scoring last season with 34 goals and 42 assists for 76 points in 78 games.
Hall, 20, was selected by the Oilers with the first overall pick in the 2010 NHL Entry Draft.
"When they said seven years, I didn't blink," Hall said. "I'm comfortable being here for that long. Hopefully by that time, we're a perennial threat. That's my goal and that's my mindset when I signed the deal.".
"Obviously it's a big deal for the Oilers to secure a player and a person like Taylor Hall, who represents the organization with such class and enthusiasm and passion," said Oilers general manager Steve Tambellini. "He's always said he wants to be an Oiler and he wants to win as an Oiler, which is music to my ears."
Hall's deal is comparable to contracts recently signed by Carolina Hurricanes centre Jeff Skinner (six years, $5.725 million per season) and New York Islanders centre Jonathan Tavares (six years, $5.5 million per season.)
The four, along with recently signed defenceman Justin Schultz, are considered to be the building blocks of the Oilers future.
The Calgary native scored 22 goals in his rookie season, which also came to a premature end after injuring his ankle in a fight with Columbus Blue Jackets winger Derek Dorsett.
While the fight was costly, it did reveal a lot about Hall's character, something that has never come into question.
On Wednesday the team announced the signing of winger Taylor Hall to a seven year, $42 million contract extension.
It'll also make him Football Boots Sock Laceless the highest paid player on the Oilers roster once it kicks in.
"To be honest, I don't look too much at other people's salaries, that's more for my agents to look at," said Hall. "But my agents represent Skinner and once they got that deal done, we were able to start my negotiations.
"Taylor brings such a compete Football Boots Dragon
"This is something I've been thinking about for a long time, probably since the season ended," Hall said. "To get it done in a fashion that is really comfortable for both sides, I think that was very important."
Oilers fans are hoping the next player to sign is Jordan Eberle, who is expected to get a similar extension. Eberle led the Oilers in Nike Football Boots Indoor
Hall, 20, will be heading into the final year of his entry level contract this season and was due to become a restricted free agent at its conclusion.
good relationship for the last two years and I hope that continues."
level to our organization," said Tambellini. "He grabs a hold and pulls everybody along many times during a game and we've seen that his first few seasons with the Oilers. Expectations will always be high, not just with numbers, but often times he brings a compete level that is unmatched."
Tambellini confiirmed the Oilers have had discussions with Eberle but delined to comment further.
Nugent Hopkins is going into the second of a three year entry level deal, while Yakupov, who recently signed his first NHL contract, is getting set for his rookie season.
Hall was the first of three consecutive first overall picks selected by the Oilers. They took Ryan Nugent Hopkins in 2011 and Nail Yakupov this summer.
"Tavares was the first to go through, then Skinner, and I'm sure there's going to be someone after me. It's a game that the agents kind of play. It all worked out, I'm very happy and I think so are the Oilers. It's been a Soccer Boots No Laces
Hall finished with 27 goals and 26 assists in an injury shortened season, playing 61 games.
The Edmonton Oilers have locked up a cornerstone and it's expected they'll soon tie up another.
"Jordan and I have had some pretty good dialogue throughout this whole thing," said Hall. "I think his should be done pretty soon too. I really can't say, though. He wants to be here as do I and I think it's only a matter of time before it all settles and we can just go play hockey."
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