The contract will pay Anderson $4.75 million in the first two seasons before dropping to $3.1 million in 2017-2018.
The 33-year-old Anderson played in 53 games last season for the Senators, finishing 25-16-8 with a 3.00 goals against average. Before joining Ottawa in 2011, Anderson played for the Colorado Avalanche, Florida Panthers and Chicago Blackhawks. He was a third-round pick by the Blackhawks in 1999.
Last month, Ottawa re-signed 23-year-old goalie Robin Lehner to a three-year contract.
- Paul Palladino