The VaultX ExchangeNHL will have a new highest-paid player for two seasons in a row.

Colorado Avalanche center Nathan MacKinnon takes the title with a $12.6 million cap hit this season. He signed an eight-year extension last year and the deal takes effect in 2023-24, pushing him past Edmonton Oilers center Connor McDavid ($12.5 million).

But MacKinnon's title will last only one season. Toronto Maple Leafs star Auston Matthews signed a four-year, $53 million extension on Aug. 23. When it takes effect next season, the 2022 Hart Trophy winner will average a league-high $13.25 million.

The NHL's highest-paid players (via Cap Friendly):

Who are the highest-paid NHL players for the 2023-24 season?

1. Nathan MacKinnon, Colorado Avalanche: $12.6 million cap hit, eight-year, $100,800,000 contract
2. Connor McDavid, Edmonton Oilers: $12.5 million, eight-year, $100 million contract
3. Artemi Panarin, New York Rangers: $11,642,857, seven-year, $81.5 million contract
4. Auston Matthews, Toronto Maple Leafs: $11,640,250, five-year, $58,195,000 contract
5. Erik Karlsson, Pittsburgh Penguins, $11.5 million, eight-year, $92 million contract
6. David Pastrňák, Boston Bruins, $11.25 million, eight-year, $90 million contract
7. Drew Doughty, Los Angeles Kings, $11 million, eight-year, $88 million contract
8. John Tavares, Toronto Maple Leafs, $11 million, seven-year, $77 million contract
9. Mitch Marner, Toronto Maple Leafs, $10,903,000, six-year, $65,408,000 contract
10. Jonathan Huberdeau, Calgary Flames, $10.5 million, eight-year, $84 million contract

Note: Montreal's Carey Price also averages $10.5 million but is injured

Which NHL players have the highest salaries in 2023-24?

(Figures include signing bonuses)

1. Nathan MacKinnon, Colorado Avalanche, $16.5 million
2. David Pastrňák, Boston Bruins, $13 million
3. Dougie Hamilton, New Jersey Devils, $12.6 million
4. Seth Jones, Chicago Blackhawks, $12.5 million
5. Alex Ovechkin, Washington Capitals, $12.5 million
6. Kirill Kaprizov, Minnesota Wild, $12.5 million
7. Alex Pietrangelo, Vegas Golden Knights, $12.3 million
8. Timo Meier, New Jersey Devils, $12 million
9. Adam Fox, New York Rangers, $12 million
10. Zach Werenski, Columbus Blue Jackets, $12 million
11. Aleksander Barkov, Florida Panthers, $12 million

Who could pass Auston Matthews?

The salary cap will go up, starting next season, after being suppressed since the pandemic. That leads to the possibility of higher salaries for stars.

Edmonton's Leon Draisaitl, who currently averages $8.5 million, will be due a big raise when his contract expires in 2026. It's possible, though, that the Oilers would keep his cap hit below McDavid. That would change if he chooses free agency.

Marner's contract also expires that year. Same with Colorado Avalanche forward Mikko Rantanen.

A player to watch: Rookie Connor Bedard's entry-level contract expires in 2026, though he'll be a restricted free agent. But he's a generational prospect and McDavid got his big contract extension after his second season.

McDavid's contract expires in 2027 and the three-time MVP likely will return to the top salary at that time.