Pierre Gauthier trades
| San Jose Sharks acquire | Date | Ottawa Senators acquire | ||
|---|---|---|---|---|
 | 1999 8th round pick (#241-Douglas Murray) | June 27, 1998 | 1998 8th round pick (#223-Sergei Verenkin) |  |
| Toronto Maple Leafs acquire | Date | Ottawa Senators acquire | ||
|---|---|---|---|---|
 | 1998 8th round pick (#215-Dwight Wolfe) | March 17, 1998 | Per Gustafsson | |
| Edmonton Oilers acquire | Date | Ottawa Senators acquire | ||
|---|---|---|---|---|
 | Frantisek Musil | March 9, 1998 | Scott Ferguson | |
| Philadelphia Flyers acquire | Date | Ottawa Senators acquire | ||
|---|---|---|---|---|
 | Alexandre Daigle | January 17, 1998 | Pat Falloon | |
| Vaclav Prospal | ||||
| 1998 2nd round pick (#58-Chris Bala) | ||||
| Carolina Hurricanes acquire | Date | Ottawa Senators acquire | ||
|---|---|---|---|---|
 | Sean Hill | November 17, 1997 | Chris Murray | |
| Philadelphia Flyers acquire | Date | Ottawa Senators acquire | ||
|---|---|---|---|---|
| Mike Maneluk | October 21, 1997 | cash | |
| Chicago Blackhawks acquire | Date | Ottawa Senators acquire | ||
|---|---|---|---|---|
 | Kirk Daubenspeck | September 24, 1997 | 1998 6th round pick (#161-Chris Neil) | |
| future considerations | ||||
| St. Louis Blues acquire | Date | Ottawa Senators acquire | ||
|---|---|---|---|---|
 | Steve Duchesne | August 25, 1997 | Igor Kravchuk | |
| New Jersey Devils acquire | Date | Ottawa Senators acquire | ||
|---|---|---|---|---|
 | 1997 2nd round pick (#38-Stanislav Gron) | June 21, 1997 | 1997 3rd round pick (#58-Jani Hurme) | |
| 1997 3rd round pick (#66-Josh Langfeld) | ||||
| Chicago Blackhawks acquire | Date | Ottawa Senators acquire | ||
|---|---|---|---|---|
| Denis Chasse | March 18, 1997 | Mike Prokopec | |
| 1998 6th round pick (#161-Chris Neil) | ||||
| rights to Kevin Bolibruck | ||||
| St. Louis Blues acquire | Date | Ottawa Senators acquire | ||
|---|---|---|---|---|
| Pavol Demitra | November 27, 1996 | Christer Olsson | |
| Anaheim Ducks acquire | Date | Ottawa Senators acquire | ||
|---|---|---|---|---|
 | Ted Drury | October 1, 1996 | Shaun Van Allen | |
| rights to Marc Moro | Jason York | |||
| Anaheim Ducks acquire | Date | Ottawa Senators acquire | ||
|---|---|---|---|---|
| Kevin Brown | July 1, 1996 | Mike Maneluk | |
| Boston Bruins acquire | Date | Ottawa Senators acquire | ||
|---|---|---|---|---|
 | Trent McCleary | June 22, 1996 | Shawn McEachern | |
| 1996 3rd round pick (#53-Eric Naud) | ||||
| Washington Capitals acquire | Date | Ottawa Senators acquire | ||
|---|---|---|---|---|
 | Michel Picard | May 21, 1996 | future considerations (cash) | |
| Los Angeles Kings acquire | Date | Ottawa Senators acquire | ||
|---|---|---|---|---|
 | Jaroslav Modry | March 20, 1996 | Kevin Brown | |
| 1996 8th round pick (#190-Stephen Valiquettee) | ||||
| Philadelphia Flyers acquire | Date | Ottawa Senators acquire | ||
|---|---|---|---|---|
| Kerry Huffman | March 19, 1996 | 1996 9th round pick (#239-Sami Salo) | |
| Pittsburgh Penguins acquire | Date | Ottawa Senators acquire | ||
|---|---|---|---|---|
 | Dave McLlwain | March 1, 1996 | 1996 8th round pick (#212-Erich Goldmann) | |
| Colorado Avalanche acquire | Date | Ottawa Senators acquire | ||
|---|---|---|---|---|
 | rights to Brad Larsen | January 25, 1996 | Janne Laukkanen | |
| New York Islanders acquire | Date | Ottawa Senators acquire | ||
|---|---|---|---|---|
 | Don Beaupre | January 23, 1996 | Wade Redden | |
| Bryan Berard | Damian Rhodes | |||
| Martin Straka | ||||