Gostisbehere is in the final season of a six-year contract he signed with the Philadelphia Flyers on June 9, 2017, and can become an unrestricted free agent after the season.
The 29-year-old defenseman has 31 points (10 goals, 21 assists) in 52 games this season. He missed eight games with an upper-body injury from Jan. 26-Feb. 18.
"Shayne is a smooth-skating, puck-moving defenseman," Hurricanes general manager Don Waddell said. "We think his offensive skill set and veteran presence will help bolster our blueline."
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Selected by Philadelphia in the third round (No. 78) of the 2012 NHL Draft, Gostisbehere has 301 points (84 goals, 217 assists) in 515 regular-season games with the Coyotes and Flyers, and five points (two goals, three assists) in 17 Stanley Cup Playoff games.
"'Ghost' has been excellent for us," Arizona GM Bill Armstrong said. "I think it was a win-win for both sides. … It seems like our coaching staff did an amazing job with him, getting him refurbished, getting his new game in order, and he was outstanding for us from the time he got here to the time he left. We were able to get a third-round pick for him on his way out. … He got a lot better as a player and he helped us win some games and it really had a great effect on the young guys by his work ethic and his professionalism.
"Now he's got a chance to win a championship with Carolina, so we're very proud of him and wish him the best."
Arizona also traded defenseman Jakob Chychrun to the Ottawa Senators on Wednesday for conditional first-round pick in the 2023 NHL Draft, a conditional second-round pick in the 2024 NHL Draft and a second-round pick in the 2026 draft. Chychrun had sat out the previous eight games for trade-related reasons.
The Coyotes (21-30-9) are 21 points behind the Seattle Kraken and Winnipeg Jets for the second wild card into the Stanley Cup Playoffs from the Western Conference.
The Hurricanes (39-12-8) are first in the Metropolitan Division, one point ahead of the New Jersey Devils.
Carolina acquired forward Jesse Puljujarvi from the Edmonton Oilers on Tuesday for forward prospect Patrik Puistola.
NHL.com staff writer Tracey Myers contributed to this report
