McDavid officially signed an eight-year, $100 million contract extension with the Oilers on Wednesday, TSN reports.
McDavid will reportedly sign an eight-year deal with Edmonton worth an annual average value of $13.5 million, per Elliotte Friedman of Hockey Night in Canada.
McDavid was named winner of the Hart Memorial Trophy as the league MVP as voted by the Professional Hockey Writers' Association on Wednesday.
McDavid was the league's scoring leader with 100 points, the only player to reach the century mark for the 2016-17 season.
Along with winning the Art Ross Trophy, McDavid was named the league's best player as voted by the NHLPA.
McDavid scored a power-play goal and recorded an assist during Friday's Game 5 double-overtime loss to Anaheim.
McDavid netted his fourth goal of these playoffs Wednesday, firing a wrister past John Gibson in the Game 4 home loss to the Ducks.
McDavid showed off his ridiculous skill with a highlight-reel goal in Sunday's Game 3 loss to the Ducks.
McDavid tallied an assist and two shots in Game 1 against the Ducks on Wednesday.
McDavid potted an empty-net goal in Saturday's Game 6 victory over the Sharks.