UNIONDALE, NY - NOVEMBER 29: Dany Heatley #15 of the Ottawa Senators skates against the New York Islanders on November 29, 2008 at Nassau Coliseum in Uniondale, New York. The Isles defeated the Senators 4-2. (Photo by Jim McIsaac/Getty Images)
The Sharks also got a fifth-round pick in the deal announced on Saturday.
The trade on the opening day of training camp ends a dispute that has overshadowed the Senators in recent months.
The 28-year-old Heatley said he wanted out of Ottawa because he wasn't being used properly. But he angered fans when he refused to waive a no-trade clause to go to Edmonton.
The Sharks beef up their offense by acquiring a former 50-goal scorer. Heatley had 39 goals and 33 assists last season.