Andreychuk was feted during a 10-minute ceremony before the Lightning faced Buffalo, the club Andreychuk began his NHL career with in 1982.
The Lightning signed Andreychuk as a free agent July 13, 2001 and he was named the seventh captain in team history Sept. 11, 2002. Andreychuk helped Tampa Bay win the 2004 Stanley Cup and at 40 years seven months holds the distinction of being the oldest player ever to make his debut in an NHL final.
The Lightning released Andreychuk on Jan. 10, 2006 to end his NHL career. But he rejoined the club in October as its community representative.
Andreychuk, a Hamilton native, spent 23 seasons in the NHL with Buffalo, Toronto, New Jersey, Boston, Colorado and Tampa Bay. He registered 640 goals and 698 assists in 1,639 regular season games.
He holds the NHL record for career power-play goals with 270 and appeared in two NHL all-star games (1990 and '94).
"The image of Dave Andreychuk lifting the Stanley Cup over his head will be forever remembered by everyone in the Tampa Bay area," Lightning president Ron Campbell said on the club's website. "Dave's leadership helped bring one of the most treasured moments in all of sports to our city and nobody will ever forget the magic of that night.
"We honour Dave, not just for the Stanley Cup success, but for being one of the top players in NHL history."