The 24-year-old forward, who was a restricted free agent, had a salary arbitration hearing Thursday.
Elie had one assist in 16 games with the Sabres last season and 14 points (eight goals, six assists) in 25 games with Rochester of the American Hockey League.
Selected by the Dallas Stars in the second round (No. 40) of the 2013 NHL Draft, Elie has 22 points (seven goals, 15 assists) in 106 games for Buffalo and Dallas. He has not played in the Stanley Cup Playoffs.