Leivo, 25, has appeared in 27 games for Toronto this season, collecting six points (4-2-6) and seven penalty minutes.
The Innisfil, Ontario native has played 84 NHL games, recording 28 points (14-14-28) and 27 penalty minutes over the course of six seasons with Toronto.
In 2015.16, he was named to the AHL All-Star game in a season where he registered nearly a point per game for Toronto's AHL affiliate, the Marlies: 48 points (17-31-48) in 51 games.
The 6'2", 192-pound left wing was originally drafted by Toronto in the third round, 86th overall in the 2011 NHL Entry Draft.