Philadelphia Flyers\' Martin Biron. (AP File/H. Rumph, Jr.)
"We are extremely pleased to get this done," Flyers GM Paul Holmgren said in a release. "Marty has come in and played well and we look for him to be a solid goaltender for us for the next two years."
Biron, 29, has a 16-9-2 record, 3.01 goals-against average and .904 save percentage in 29 games this season for the Flyers and Buffalo. He made US$2.1 million this season in the final year of his contract and was set to become an unrestricted free agent July 1.
Philadelphia acquired the Lac St. Charles, Que., native just before last month's trade deadline. The Sabres got a second-round draft pick in the 2007 NHL entry draft in return.
In 310 career regular season games, Biron has a 138-120-30 record, 2.54 GAA, .910 save percentage and 18 shutouts. He was originally drafted by the Sabres in the first round (16th overall) of the 1995 draft.
The Flyers (20-44-11) are at the bottom of the NHL's overall standings with 51 points. They have had a recent run of instability in goal, with Antero Niittymaki and Robert Esche unable to hold on to the starting job.