Columbus (35-23-3) is in third place in the Metropolitan Division, two points behind the second-place Washington Capitals.
"We are very happy to add Ryan Dzingel to our team as he is a very good player and goal-scorer in the National Hockey League and a quality person who we believe will be a great fit with our group," Blue Jackets general manager Jarmo Kekalainen said. "He has local ties having played at Ohio State (2011-14) and in talking to him is very excited about coming back to Columbus, being a Blue Jacket and helping us as we move forward."
Selected by Ottawa in the seventh round (No. 203) in the 2011 NHL Draft, Dzingel has 126 points (62 goals, 64 assists) in 247 regular-season games and three points (two goals, one assist) in 15 Stanley Cup Playoff games. He played three seasons at Ohio State University.
Duclair had 19 points (11 goals, eight assists) in 52 games for Columbus. He has 108 points (48 goals, 60 assists) in 265 games for the Blue Jackets, Chicago Blackhawks, Arizona Coyotes and New York Rangers.
"We're pleased with the futures we've received in this deal," Senators general manager Pierre Dorion said. "The two second-round picks add to the significant depth of quality selections we'll have available to us in the next three drafts to fuel our rebuild.
"In Anthony Duclair, we've acquired a talented young winger who has a history of scoring goals in the League. We plan to give him the opportunity to succeed here and expect that his speed and skill set will allow him to fit as part of our future."
Ottawa (22-34-5) is last in the NHL.