| Pick | Team | Player | Pos | Previous Team/League |
| 1 |
Columbus Blue Jackets (from FLA) |
Rick Nash |
LW |
London (OHL) |
| 2 |
Atlanta Thrashers |
Kari Lehtonon |
G |
Jokerit (Finland) |
| 3 |
Florida Panthers (from CLB) |
Jay Bouwmeester |
D |
Medicine Hat (WHL) |
| 4 |
Philadelphia Flyers (from TB) |
Joni Pitkanen |
D |
Karpat (Finland) |
| 5 |
Pittsburgh Penguins |
Ryan Whitney |
D |
Boston U. (Hockey East) |
| 6 |
Nashville Predators |
Scottie Upshall |
RW |
Kamloops (WHL) |
| 7 |
The Mighty Ducks of Anaheim |
Joffrey Lupul |
RW |
Medicine Hat (WHL) |
| 8 |
Minnesota Wild |
Pierre-Marc Bouchard |
C |
Chicoutimi (QMJHL) |
| 9 |
Florida Panthers (from CGY) |
Petr Taticek |
C |
Sault Ste. Marie (OHL) |
| 10 |
Calgary Flames (from NYR via FLA) |
Eric Nystrom |
LW |
Michigan (CCHA) |
| 11 |
Buffalo Sabres |
Keith Ballard |
D |
Minnesota (WCHA) |
| 12 |
Washington Capitals |
Steve Eminger |
D |
Kitchener (OHL) |
| 13 |
Washington Capitals (from DAL) |
Alexander Semin |
LW |
Chelyabinsk (Russia) |
| 14 |
Montreal Canadiens (from EDM) |
Chris Higgins |
C |
Yale (ECAC) |
| 15 |
Edmonton (from MON) |
Jess Niinimaki |
C |
Ilves (Finland) |
| 16 |
Ottawa Senators |
Jakub Klepis |
C |
Portland (WHL) |
| 17 |
Washington Capitals (from VAN) |
Boyd Gordon |
RW |
Red Deer (WHL) |
| 18 |
Los Angeles Kings |
Denis Grebeshkov |
D |
Yaroslavl (Russia) |
| 19 |
Phoenix Coyotes |
Jakub Koreis |
C |
Plezn (Czech Jr.) |
| 20 |
Buffalo Sabres (from NJ via DAL and CLB) |
Daniel Paille |
LW |
Guelph (OHL) |
| 21 |
Chicago Blackhawks |
Anton Babchuk |
D |
Elektrostal (Russia) |
| 22 |
New York Islanders |
Sean Bergenheim |
LW |
Jokerit (Finland) |
| 23 |
Phoenix Coyotes (from STL) |
Ben Eager |
LW |
Oshawa (OHL) |
| 24 |
Toronto Maple Leafs |
Alexander Steen |
C |
Frolunda (Sweden) |
| 25 |
Carolina Hurricanes |
Cam Ward |
G |
Red Deer (WHL) |
| 26 |
Dallas Stars (from PHI via WAS) |
Martin Vagner |
D |
Hull (QMJHL) |
| 27 |
San Jose Sharks |
Mike Morris |
RW |
St. Sebastian's (USHS) |
| 28 |
Colorado Avalanche |
Jonas Johansson |
RW |
HV-71 Jr. (Sweden) |
| 29 |
Boston Bruins |
Hannu Toivonen |
G |
HPK (Finland) |
| 30 |
Atlanta Thrashers (from DET via BUF and CLB) |
Jim Slater |
C |
Michigan St. (CCHA) |