Steven Stamkos is staying in Tampa Bay.

The star centre has decided to forego free agency to sign an eight-year, $68 million deal with the Lightning.

The 26-year-old scored 36 goals and 64 points in 77 games during the regular season last season, while also playing on the wing at times.

His regular season was cut short by blood clot in his right arm, which also forced him to miss all but one of Lightning's 17 playoff games. He had two shots and was minus-1 in Game 7 of the Eastern Conference Final against the Pittsburgh Penguins. The Lightning lost the game 2-1.

The Markham, Ont. native posted a career-high in goals during the 2011-12 season with 60, but he has not eclipsed the 45-goal mark since that season.

Since making his debut with the Lightning in 2008 – the same year he was selected first overall – Stamkos owns 312 goals and 562 points in the NHL.

He was named the 10th captain in Lightning history in March 2014.

His cap hit sat at $7.5 million last season, the final year of his five-year, $37.5 million contract with the Lightning.