The team announced the decision Monday before a scheduled conference call with Lidstrom and general manager Ken Holland.
The 41-year-old Swede, who will return for a 20th season, had considered retiring.
Lidstrom is a Norris Trophy finalist for the 11th time in 13 seasons. If he wins the award for being the NHL's top defenseman - it would be his seventh - he will match Doug Harvey's total and trail Bobby Orr's record by only one.
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