Oilers defenceman Denis Grebeshkov re-signed on Tuesday. ((Dale MacMillan/Getty Images))

Restricted free agent Denis Grebeshkov avoided arbitration Tuesday, re-signing with the Edmonton Oilers for one year and a reported $3.15 million US.  

Grebeshkov earned an estimated $1.5 million US last season, when he set career highs in goals (7), assists (32), points (39) and games played (72).

The 25-year-old defenceman led the Oilers with a plus-12 rating.

"I'm very happy to be returning to the Oilers and the city of Edmonton," Grebeshkov said in a statement.

"I've really enjoyed my time in Edmonton and I can't wait to start next season."

Grebeshkov has totalled 10 goals and 63 points in 176 games over four NHL seasons with the Los Angeles Kings, New York Islanders and Oilers.

Drafted 18th overall by Los Angeles in 2002, he played just 12 games for the Kings and 21 games for the Islanders before being traded to the Oilers for defenceman Marc-André Bergeron and a third-round draft pick on Feb. 18, 2007.

Grebeshkov has represented Russia at three world championships, winning back-to-back gold medals in 2008 and 2009.

With files from The Canadian Press