Gaudette has appeared in eight games with Chicago this season where he has one goal and one assist.
A fifth round draft pick by Vancouver in 2015, Gaudette has played in 168 career games where he has scored 23 goals and tallied 58 points. In 2019-20 with the Canucks, he set career highs in goals (12), assists (21) and points (33) while playing in 59 games.
The Braintree, MA., native is a former Hobey Baker Award winner after posting 30 goals and 60 points in 2017-18 while at Northeastern.
The Senators also placed goaltender Matt Murray on waivers Saturday. Murray is 0-5-0 this season with a 3.26 GAA and .890 save percentage.
"We want him to get going and he will be on waivers today," Sens head coach D.J. Smith said. "If someone picks him up, he'll get an opportunity there but if he doesn't, he'll likely go down to Belleville and give him an opportunity to play and get his game back."
Acquired in October 2020, Murray is 10-18-1 in 33 career games with the Sens.
"By no means is this on Matt Murray," Smith said. "We want him to be the best goalie possible and give him the best chance. A lot of this revolves around his injuries and there's nothing he can do about it but he's missed a lot of time and hasn't been able to get into a rhythm ... this is about getting his game back."