As the 2025-26 NHL season begins on Tuesday, so does another season of fantasy hockey. The first few rounds of any fantasy draft rely on luck– no amount of skill can influence pick order. But leagues are won in the later rounds of the draft, and this year, the Vegas Golden Knights boast four of the highest-value fantasy sleepers.

Let’s get into it.

Shea Theodore

ESPN Fantasy Ranking: 235
Yahoo Fantasy Ranking: 111

If you use ESPN Fantasy, Shea Theodore might be the greatest late-round value pick of this year’s draft. Last year, Theodore recorded career highs in assists, points, and power play points. Now, for the first time in his career, he’ll enter the season as the undisputed number one defenseman. 

Last season, Theodore primarily played second-pairing minutes behind Alex Pietrangelo. But with Pietrangelo stepping away from hockey to focus on his health, Theodore is the top defenseman on the depth chart. He’ll get more minutes this season, and he’ll do so on a Golden Knights team that’s positively brimming with offensive firepower.

There’s really only one downside to drafting Theodore: he might not be on the top power play unit. Through training camp and the preseason, Mitch Marner has slotted in at the top of the umbrella on the first unit. With Pavel Dorofeyev injured, Bruce Cassidy slid Theodore down from the point to the right flank. But what happens when Dorofeyev returns?

Even with the uncertainty surrounding his power play status, Theodore’s offensive numbers make him an attractive fantasy defenseman– especially if you can get him in the later rounds.

Ivan Barbashev

ESPN Fantasy Ranking: 264
Yahoo Fantasy Ranking: 190

Ivan Barbashev started last season red hot, but suffered an upper-body injury in December and missed 12 games. After his injury, he never returned to form. But now, he’s had a full summer of rest, and he’s fully healthy.

This year, Barbashev is the third wheel on his line. But he’s on a line with Jack Eichel and Mitch Marner— two of the top players at their respective positions— so that’s not a bad thing to be. Eichel and Marner are two of the best playmakers in the league, and Barbashev has demonstrated an ability to finish. He’s a decent playmaker himself, and he’s willing to crash the net. 

In a 10-man league, Barbashev is the perfect late-round pick. He’s a low-risk, high-reward player with a 20-goal floor and a ceiling closer to 30. 

Noah Hanifin

ESPN Fantasy Ranking: 190
Yahoo Fantasy Ranking: 229

Last season, Noah Hanifin didn’t make much noise from a fantasy perspective. He finished the year with 10 goals, 39 points, and 106 blocked shots. This year, he’s all but guaranteed to bounce back.

Just like Shea Theodore, Hanifin doesn’t figure to break into the top power play unit. However, Hanifin does his damage in transition, and historically, most of his points come at even strength. Last year, he spent time on the top power play unit, but still finished the year with just two goals and 10 points on the man advantage.

However, like Shea Theodore, Noah Hanifin is a player the Golden Knights are counting on to take a step up in Alex Pietrangelo’s absence. He’ll have more responsibilities this season, and that means more minutes and more offensive touches. Hanifin won’t be deferring to Pietrangelo anymore; if he stays healthy, he’ll probably be good for at least 50 points.

Mark Stone

ESPN Fantasy Ranking: 270
Yahoo Fantasy Ranking: 121

At first glance, you might assume that the arrival of Mitch Marner would tank Mark Stone’s fantasy value. This year, Stone won’t begin the season on Jack Eichel’s wing. Instead, he’s sliding into the middle-six to line up next to William Karlsson and Reilly Smith. That means Stone will get fewer minutes and potentially take on a more defensive role on a shutdown line.

However, Stone will have a unique motivation at the beginning of the season: NHL players are finally returning to the Olympics in February. After attending Orientation Camp in August, it appears that Stone is on a shortlist to make Team Canada’s roster. Federations will submit their list of 42 skaters by October 15th; by December 31st, they’ll narrow that list down to 22. 

Stone has won a Stanley Cup– now, the only thing missing from his hardware case is an Olympic gold medal. A fast start to the season might set him apart from other Team Canada hopefuls.

Key Olympic roster dates for #NHL:

Oct. 15: Deadline for federations to submit list of 42 skaters and 5 goalies.

Dec. 31: Deadline for provisional roster submission of 22 skaters and 3 goalies.

Feb. 6-24: Olympic break.
Feb. 11-22: Olympic Games in Milan.
Feb. 25: NHL resumes.

— Frank Seravalli (@frank_seravalli) September 30, 2025

One thing that’s not in question is Stone’s spot on the top power play unit. No one can do what Stone does around the goal line, and unless the Golden Knights completely change their approach to the power play, he’s still a threat. Last year, he set a new career high with 25 power play points, and if the Golden Knights’ power play is to remain successful, he’ll play a huge part in it.