Gaborik, 32, played just 41 regular season games in 2013-14 - 22 for the Columbus Blue Jackets, before his mid-season switch to the Kings.
After 19 regular-season appearances for LA, he lit it up in the Stanley Cup play-offs - playing 26 games, scoring 14 times and having eight assists to help the Kings to their second championship.
Gaborik's stellar post season saw him re-signed long-term despite his injury issues, and his age.
Despite only spending half a season at the Staples Center, Gaborik said he knew he wanted to remain in LA and not become an unrestricted free agent (UFA).
"All along I wanted to stay here. The organisation knew it, the players knew it, everybody knew it, my agent knew it. That was my number one priority, to try to get the deal done here," Gaborik said.
"I know I could get maybe more money if I went to UFA, but it wasn't about money. I wanted to stay here and be a part of a great team."
Gaborik is reportedly set to earn just under $5million per season.