The 1997–98 NHL season was a tribute to injured defenseman Vladimir Konstantinov, as the Detroit Red Wings successfully defended their title by sweeping the Washington Capitals. The season was also notable for the NHL's first-ever Olympic break, allowing players to compete in the Nagano Games, where Dominik Hasek led the Czech Republic to gold. In the NHL, Jaromir Jagr won the Art Ross Trophy, and Teemu Selanne tied for the goal-scoring lead. This season marked the last time a team would repeat as champions until the 2017 Pittsburgh Penguins.
| vs previous season | ||||||
| Rank | Player | NHL Salary ($US) | In today's $ | +/- ($) | +/- (%) | |
| 1 | Sergei Fedorov | $28,000,000 | $52,835,784 | $23,800,000 | 567% | |
| 2 | Joe Sakic | $17,000,000 | $32,078,869 | $13,900,000 | 448% | |
| 3 | Chris Gratton | $10,000,000 | $18,869,923 | $9,025,000 | 926% | |
| 4 | Wayne Gretzky | $6,500,000 | $12,265,450 | $1,452,500 | 29% | |
| 5 | Mark Messier | $6,015,000 | $11,350,259 | $15,000 | 0% | |
| 6 | Paul Kariya | $5,500,000 | $10,378,458 | $4,925,000 | 857% | |
| 6 | Pavel Bure | $5,500,000 | $10,378,458 | $500,000 | 10% | |
| 8 | Jaromir Jagr | $5,100,000 | $9,623,661 | $1,050,000 | 26% | |
| 9 | Steve Yzerman | $5,079,063 | $9,584,153 | $586,714 | 13% | |
| 10 | Pat LaFontaine | $4,800,000 | $9,057,563 | $200,000 | 4% | |
| 11 | Brett Hull | $4,700,000 | $8,868,864 | $300,000 | 7% | |
| 12 | Patrick Roy | $4,463,260 | $8,422,137 | $7,316 | 0% | |
| 13 | Scott Stevens | $4,312,500 | $8,137,654 | $562,500 | 15% | |
| 14 | Dominik Hasek | $4,000,000 | $7,547,969 | -$200,000 | -5% | |
| 14 | Peter Forsberg | $4,000,000 | $7,547,969 | $1,126,500 | 39% | |
| 16 | Mike Richter | $3,900,000 | $7,359,270 | $300,000 | 8% | |
| 17 | Eric Lindros | $3,746,800 | $7,070,183 | -$435,200 | -10% | |
| 18 | Chris Chelios | $3,709,905 | $7,000,562 | $909,905 | 32% | |
| 19 | Brendan Shanahan | $3,600,000 | $6,793,172 | |||
| 19 | Jeremy Roenick | $3,600,000 | $6,793,172 | $400,000 | 13% | |
| 21 | Doug Gilmour | $3,550,000 | $6,698,823 | $1,314,350 | 59% | |
| 22 | Al MacInnis | $3,500,000 | $6,604,473 | |||
| 22 | Mike Modano | $3,500,000 | $6,604,473 | $578,100 | 20% | |
| 24 | Raymond Bourque | $3,436,719 | $6,485,062 | $935,119 | 37% | |
| 25 | Joe Murphy | $3,400,000 | $6,415,774 | $600,000 | 21% | |
| 25 | Teemu Selanne | $3,400,000 | $6,415,774 | $550,000 | 19% | |