Edmonton (34-36-9) was eliminated from contention for the Stanley Cup Playoffs earlier in the night when the Colorado Avalanche earned one point in a 3-2 shootout loss to the St. Louis Blues.
"It was never really a question at this point," Oilers captain Connor McDavid said. "It's not good enough. All year, we let streaks drag on. There were times we couldn't find ways to get wins. You have to find a way to stop the bleeding quick. It's a slim margin of error in this league. There were a lot of teams that were right there. We did our best to stay in the fight, but just a little too late."
WATCH: [All Oilers vs. Golden Knights highlights]
It was the first win since a 5-0 victory against the Winnipeg Jets on March 21 for the Golden Knights (43-30-7), who will play the San Jose Sharks in the Western Conference First Round. The losing streak was their longest in two seasons in the NHL.
Cody Eakin, Jonathan Marchessault and Pierre-Edouard Bellemare scored for Vegas, and Malcolm Subban made 18 saves for his first win in six starts.
"We had a tough little stretch the past few games," Marchessault said. "We just wanted to get back into the win column. It's about getting ready for the playoffs right now. We just wanted to win, and we got it tonight."
McDavid scored for the Oilers (34-36-9), who are 2-4-2 in their past eight games and have missed the playoffs two straight seasons. Mikko Koskinen made 28 saves.
"At this time of year, you want your team to compete at a high level, and for the most part, we did," Edmonton coach Ken Hitchcock said. "Overall, you can't fault our effort, and I thought in most cases we competed at a high level."
Eakin scored at 15:27 of the first period to give Vegas a 1-0 lead.