Kovalev, 39, last played in the NHL for Pittsburgh during the 2010-11 season.
Last season, Kovalev skated with Atlant of the KHL, where he picked up one goal and five assists in 22 games.
Throughout his 18-year NHL career, the three-time NHL All-Star accumulated 428 goals and 596 assists for 1,024 points, along with 1,298 penalty minutes, in 1,302 regular-season games with the New York Rangers, Pittsburgh Penguins, Montreal Canadiens and Ottawa Senators.
His most offensively potent season came in 2000-01 with the Penguins when he scored 44 goals and added 51 assists for 95 points.
Kovalev was originally drafted by the Rangers in the first-round, 15th overall, in the 1991 NHL Entry Draft.
He captured the Stanley Cup in 1993-94 as a member of the Rangers, and was named the NHL All-Star Game MVP in 2008-09 while playing for the Canadiens.