The 33-year-old right-winger spent the last three seasons with the Dallas Stars, but missed the bulk of the 2016-17 campaign after undergoing surgery to repair a torn hip labrum last October. He sustained the injury during the 2016 World Cup of Hockey.
"We are very pleased with the acquisition of Ales Hemsky. He is a skilled player with lots of experience in the NHL. Considering the terms of the agreement, it was very appealing to us. We feel he will be a good addition to our group of forwards," said Canadiens general manager Marc Bergevin.
Hemsky played just 15 games last season, amassing four goals and seven points.
The Pardubice, Czech Republic native has played 838 games over the course of his NHL career, which began in 2002-03 with the Edmonton Oilers, registering 174 goals and 398 assists for 572 career points.
He was a first-round selection of the Oilers,13th overall, in 2001.
In addition to suiting up for the Oilers and Stars, Hemsky also played 20 games for the Ottawa Senators in 2013-14.
A product of the QMJHL's Hull Olympiques, Hemsky collected 197 points (63 goals, 134 assists) in 121 games in the junior ranks. On the international stage, he suited up for Czech Republic at the 2002 World Junior Championship; at the World Championships in 2005 (gold medal), 2009 and 2012 (bronze medal); at the 2016 World Cup of Hockey and at the Winter Olympics in 2006 (bronze medal) and 2014.