In exchange, the Colorado Avalanche, who signed Iginla in 2014, will receive a conditional 2018 fourth-round draft pick.
Iginla will be an unrestricted free agent at the end of the season. The veteran right-winger waived his full no-movement clause in order to move to Los Angeles.
The 39-year-old, who has a long history with Kings coach Darryl Sutter, is still in search of his first Stanley Cup. Last month, Iginla said he hoped to be moved from the NHL-worst Avalanche before the deadline.
“I would hope that there is some opportunity to go and play in the playoffs,” he said. “Those are the best games, the most fun for sure, and you have a chance to win. So no, I haven’t given up on that chance to win.”
The Edmonton native is in the last year of a three-year, $16-million contract and comes with a cap hit of $5.3 million. The Kings will retain 50 per cent of Iginla’s salary.
Iginla, who has 1,535 career NHL games under his belt, was dealt near the deadline in 2013, when he was sent from the Calgary Flames to the Pittsburgh Penguins. With Pittsburgh, he scored 12 points in 15 playoff games. The Penguins lost in the conference final that year to the Boston Bruins.
Through 61 games this season, Iginla has eight goals and 18 points.