Green, a defenseman, is in the final season of a two-year contract he signed June 30, 2018 and can become an unrestricted free agent July 1. The 34-year-old has 11 points (three goals, eight assists) in 48 games this season. Green was held out of a 4-2 loss to the Calgary Flames at Little Caesars Arena on Sunday.
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Selected by the Washington Capitals in the first round (No. 29) of the 2004 NHL Draft, Green has 501 points (150 goals, 351 assists) in 878 regular-season games and 37 points (10 goals, 27 assists) in 76 Stanley Cup Playoff games.
"You can never have enough defensemen," Oilers general manager Ken Holland said after a 4-2 win against the Los Angeles Kings at Staples Center. "Obviously I know Mike Green from my days in Detroit, and his strengths are his ability to skate and his ability to move the puck.
"Over the last 24 hours, things heated up and we got the deal to be done. He's a puck-mover. He can play on the power play if [need] be. He's a good guy, he's a good team player, fits in good in the locker room, so we're excited to make the deal."
Green is a two-time NHL First-Team All Star (2008-09, 2009-10) and was a Norris Trophy finalist for the NHL's top defenseman in each of those seasons.
Brodziak has not played this season because of a back injury. The 35-year-old has 296 points (129 goals, 167 assists) in 917 NHL games with the Oilers, Minnesota Wild and St. Louis Blues.
The Oilers moved into second place in the Pacific Division, one point ahead of the Vancouver Canucks.
"Way better to add than to subtract, and your whole team is a little more at ease with it," Edmonton coach Dave Tippett said. "I look at those players in that room, they've earned the right to keep pushing, and Kenny's added a piece for us that will help, but I give all the credit to the players. They're the ones that have to come out and get the work done. They want to be a good team, they want to be a playoff team, they want to earn the right to be a playoff team, so to put ourselves in this position where we're looking to try to get better down the stretch, that's a positive sign for us."