Ralleigh, North Carolina, June 25-27, 2004
| Round | Pick | Overall | Comment | Player drafted |
| 1 | DAL from NJ | 22 | Traded up with Dallas. Plans to play in Europe 2004-2005; later was picked up in the CHL import draft by the Ottawa 67s and instead plans to play there. | F Lukas Kaspar HF | HDB |
| 1 | SJ | 28 | own pick | traded to Dallas |
| 2 | SJ | 52 | Compensatory for Selanne | traded to Dallas |
| 2 | SJ | 63 | own pick | traded to Boston |
| 3 | SJ | 91 | Compensatory for Messier | traded to Dallas |
| 3 | BOS | 94 | Draft day trade. Probably will play in Europe 2004-2005. | G Thomas Greiss HF | HDB |
| 3 | SJ | 95 | to Montreal (Hackett-Sundstrom trade) | - |
Draft day transactions:
| Round | Pick | Overall | Comment | Player drafted |
| 4 | SJ | 126 | own pick | C Torrey Mitchell HF | HDB |
| 4 | BOS | 127 | McLaren trade/ to NYRangers (Messier) | - |
| 4 | BOS | 129 | draft day trade | G Jason Churchill HF | HDB |
| 5 | CAL | 152 | Loyns trade | traded to Florida |
| 5 | DAL | 153 | draft day trade | C Steven Zalewski HF | HDB |
| 5 | SJ | 161 | to Minnesota | - |
| 6 | SJ | 191 | to Philadelphia | - |
| 7 | FLA | 201 | draft day trade | Michael Vernace HF | HDB |
| 7 | SJ | 225 | own pick | D David MacDonald HF | HDB |
| 8 | FLA | 234 | draft day trade | G Derek MacIntyre HF | HDB |
| 8 | SJ | 256 | to Chicago | - |
| 9 | SJ | 288 | draft day trade | G Brian Mahoney-Wilson HF | HDB |
| 9 | SJ | 289 | own pick | D Christian Jensen HF | HDB |
Draft day transaction:
2004 (4th round) pick from Boston (McLaren-Jillson-Hackett trade); 2004 (3rd round) pick to Montreal (Hackett-Sundstrom trade). 2004 (6th round) to Philadelphia (draft day 2003). 2004 (8th round) to Chicago (draft day 2003). Compensatory pick for Selanne signing with Colorado. "Future considerations" to New York Rangers for rights to Mark Messier (6/30/03); compensatory pick for Messier signing with Rangers. Future Considerations from Calgary (Loyns trade). 2004 (5th round) pick to Minnesota (Marshall trade). Future Considerations from Boston (Boyes-Delmore-Jillson trade).
2005 (2nd/3rd conditional round) pick from Calgary (Kiprusoff trade). 2005 (9th round) pick to Buffalo (Delmore-Jillson-Brown trade). Future Considerations from Boston (Boyes-Delmore-Jillson trade)?