Vancouver general manager Mike Gillis announced on Monday the club has agreed to a one-year, $2.275 million US deal with the restricted free agent, avoiding arbitration.
The Canucks invoked a provision in the collective bargaining agreement last month, seeking to reduce the winger's salary by up to 15 per cent through arbitration.
Raymond, 26, is coming off a two-year, $5.1 million pact with the team with an annual cap hit of $2.55 million.
The forward notched 10 goals and 10 assists in 55 games for the Canucks last year and appeared in all five of the team's playoff contests, registering an assist.
In 328 career games, the native of Cochrane, Alta. has amassed 70 goals and 156 career points. Drafted 51st overall by the Canucks in 2005, his best campaign came in 2009-10 when he played a full season and scored 25 goals and 28 assists.
Vancouver won the Presidents' Trophy as the NHL's top team last year but was eliminated in the first round of the playoffs by the eventual Stanley Cup champion Los Angeles Kings.