Horcoff, who turns 35 on Sept. 17, has two years remaining on his six-year contract but has a cap hit of $5.5 million.
In 31 games with the Oilers last season, the Trail, B.C., native scored seven goals, five assists and had a plus-eight rating. Horcoff has just 20 goals in his last 112 regular-season games.
With Horcoff removed from MacTavish’s chopping block, another possible buyout candidate for the Oilers could be winger Ales Hemsky.
In 38 games in 2013, the 29-year-old recorded just nine goals and 11 assists with a minus-six rating. Hemsky is entering the final year of a two-year contract he signed in Feb. 2012 and has a cap hit of $5 million.
The buyout period starts June 26 at 11 p.m. ET and comes to an end on July 4 at 5 p.m. ET.