Ohlund has four years remaining on a seven-year, $25.25 million contract.
The veteran blueliner has been contributing off the ice, watching games from the press box and sharing his thoughts on the Bolts' defense.
"He's a really bright hockey guy and well-respected," Yzerman told the Times. "He's got a lot to offer to us in watching the games and watching our defensemen and being able to work with them, particularly the younger guys, about the finer points of playing the position."
In 72 games with the Lightning last season, Ohlund recorded five assists, and 70 penalty minutes.
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